Cheesecake Factory (CAKE) came out with quarterly earnings of $0.58 per share, beating the Zacks Consensus Estimate of $0.47 per share. This compares to earnings of $0.39 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 23.40%. A quarter ago, it was expected that this restaurant chain would post earnings of $1 per share when it actually produced earnings of $1.09, delivering a surprise of 9%. Over the last four quarters, the c ...

[Financial Highlights and Business Overview](index=1&type=section&id=Financial%20Highlights%20and%20Business%20Overview) [Third Quarter 2024 Financial Performance](index=1&type=section&id=Third%20Quarter%202024%20Financial%20Performance) The Cheesecake Factory achieved its fourth consecutive quarter of year-over-year growth in Q3 2024, with revenues and net income increasing Q3 Fiscal 2024 Key Financial Results | Financial Metric | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | Total Revenues | $865.5 million | $830.2 million | | Net Income (GAAP) | $30.0 million | $17.9 million | | Diluted EPS (GAAP) | $0.61 | $0.37 | | Adjusted Net Income | $28.2 million | $19.0 million | | Adjusted Diluted EPS | $0.58 | $0.39 | - Comparable restaurant sales at The Cheesecake Factory restaurants increased by **1.6%** year-over-year in the third quarter of fiscal 2024[4](index=4&type=chunk) - The company recorded a pre-tax net income of **$2.5 million** from impairment of assets, lease termination income, and FRC acquisition-related expenses, resulting in an adjusted net income of **$28.2 million**[3](index=3&type=chunk) [Operational Highlights and Management Commentary](index=1&type=section&id=Operational%20Highlights%20and%20Management%20Commentary) Management highlighted strong operational execution and market share gains, driven by improved productivity, retention, and successful new restaurant openings - The company is capturing market share, evidenced by strong outperformance in comparable sales and traffic at The Cheesecake Factory restaurants compared to the broader casual dining industry[5](index=5&type=chunk) - Restaurant operations showed exceptional execution with significant improvements in labor productivity, hourly staff and manager retention, and guest satisfaction scores[5](index=5&type=chunk) - A total of **17** new restaurants have opened year-to-date, reinforcing confidence in achieving near-term and long-term development objectives[5](index=5&type=chunk) [Operational and Corporate Updates](index=2&type=section&id=Operational%20and%20Corporate%20Updates) [Restaurant Development](index=2&type=section&id=Development) The company continued its expansion, opening four new restaurants in Q3 and three post-quarter, targeting up to 22 new locations in fiscal 2024 - In Q3 2024, the company opened **four** new restaurants: one Flower Child and three other FRC locations[6](index=6&type=chunk) - Subsequent to the quarter-end, **three** additional restaurants were opened: one North Italia, one Flower Child, and one Blanco[6](index=6&type=chunk) - The company expects to open as many as **22** new restaurants in fiscal 2024, including up to **three** The Cheesecake Factory, **six** North Italia, and **six to seven** Flower Child locations[7](index=7&type=chunk) [Liquidity and Capital Allocation](index=2&type=section&id=Liquidity%20and%20Capital%20Allocation) As of October 1, 2024, the company maintained strong liquidity with $288.7 million available, alongside stock repurchases and dividend declarations Liquidity and Debt as of October 1, 2024 | Metric | Amount | | :--- | :--- | | Total Available Liquidity | $288.7 million | | Cash Balance | $52.2 million | | Revolving Credit Facility Availability | $236.5 million | | Total Principal Debt Outstanding | $475 million | - Repurchased approximately **29,450 shares** of stock for **$1.1 million** in Q3 2024[9](index=9&type=chunk) - The Board of Directors declared a quarterly dividend of **$0.27 per share**, payable on November 26, 2024[9](index=9&type=chunk) [Financial Statements](index=3&type=section&id=Financial%20Statements) [Condensed Consolidated Financial Statements](index=3&type=section&id=Condensed%20Consolidated%20Financial%20Statements) The condensed consolidated income statement for Q3 2024 shows significant year-over-year increases in revenues, income from operations, and net income Consolidated Income Statement Highlights (Q3 2024 vs Q3 2023, in millions) | Metric (13 Weeks Ended) | Oct 1, 2024 | Oct 3, 2023 | | :--- | :--- | :--- | | Revenues | $865.5 M | $830.2 M | | Income from Operations | $33.7 M | $19.0 M | | Net Income | $30.0 M | $17.9 M | | Diluted Net Income per Share | $0.61 | $0.37 | Consolidated Income Statement Highlights (39 Weeks Ended, in millions) | Metric (39 Weeks Ended) | Oct 1, 2024 | Oct 3, 2023 | | :--- | :--- | :--- | | Revenues | $2,660.7 M | $2,562.5 M | | Income from Operations | $131.7 M | $100.4 M | | Net Income | $115.6 M | $88.7 M | | Diluted Net Income per Share | $2.37 | $1.80 | [Selected Segment Information](index=5&type=section&id=Selected%20Segment%20Information) Segment data for Q3 2024 highlights The Cheesecake Factory as the primary revenue and profit driver, with North Italia also showing strong growth Segment Revenues (13 Weeks Ended Oct 1, 2024 vs Oct 3, 2023, in millions) | Segment | Q3 2024 Revenue | Q3 2023 Revenue | | :--- | :--- | :--- | | The Cheesecake Factory | $647.8 M | $628.1 M | | North Italia | $71.9 M | $62.4 M | | Other FRC | $67.0 M | $58.6 M | | Other | $78.9 M | $81.0 M | Segment Income from Operations (13 Weeks Ended Oct 1, 2024 vs Oct 3, 2023, in millions) | Segment | Q3 2024 Income | Q3 2023 Income | | :--- | :--- | :--- | | The Cheesecake Factory | $87.8 M | $67.6 M | | North Italia | $4.4 M | $4.1 M | | Other FRC | ($1.4 M) | $1.0 M | - At the end of the period, the company had **215** The Cheesecake Factory restaurants, **39** North Italia restaurants, and a total of **341** company-owned restaurants[17](index=17&type=chunk)[18](index=18&type=chunk) [Reconciliation of Non-GAAP Results to GAAP Results](index=7&type=section&id=Reconciliation%20of%20Non-GAAP%20Results%20to%20GAAP%20Results) The company reconciled GAAP to non-GAAP results for Q3 2024, adjusting net income and diluted EPS to exclude non-recurring items Q3 2024 Reconciliation of GAAP to Non-GAAP Net Income | Description | Amount (in thousands) | | :--- | :--- | | Net income (GAAP) | $29,994 | | Impairment/lease termination (income) | ($3,472) | | Acquisition-related expenses | $1,020 | | Tax effect of adjustments | $638 | | **Adjusted net income (non-GAAP)** | **$28,180** | Q3 2024 Reconciliation of GAAP to Non-GAAP Diluted EPS | Description | Amount per Share | | :--- | :--- | | Diluted net income per share (GAAP) | $0.61 | | Impairment/lease termination (income) | ($0.07) | | Acquisition-related expenses | $0.02 | | Tax effect of adjustments | $0.01 | | **Adjusted net income per share (non-GAAP)** | **$0.58** |

Steady growth and a safe dividend are what dividend investors should be looking for. In this video, I will discuss Cheesecake Factory (CAKE 2.88%) and explain whether it's a good dividend stock to own. Watch the short video to learn more, consider subscribing, and click the special offer link below. *Stock prices used were from the trading day of Oct. 25, 2024. The video was published on Oct. 28, 2024. ...

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Cheesecake Factory (CAKE) . This company, which is in the Zacks Retail - Restaurants industry, shows potential for another earnings beat. This restaurant chain has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two qu ...

Cheesecake Factory (CAKE) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the s ...

Investors looking for stocks in the Retail - Restaurants sector might want to consider either Cheesecake Factory (CAKE) or Compass Group PLC (CMPGY) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimat ...

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use fun ...

KEY TAKEAWAYSJCP Investment Management, an activist investor, reportedly has built a stake in The Cheesecake Factory and is pushing for the restaurant chain to break up.The Cheesecake Factory shares are up 3% in premarket trading.According to The Wall Street Journal, Houston-based JCP has a roughly 2% stake in The Cheesecake Factory and is asking the restaurant operator to spin off three of its smaller brands into a separate public company focused on faster growth. JCP Investment Management, an activist inv ...

Vancouver, British Columbia--(Newsfile Corp. - October 16, 2024) - Radio Fuels Energy Corp. (CSE: CAKE) (the "Company" or "Radio Fuels") announces that it has acquired ownership and control of 14,166,667 units (the "Subject Units") of Freeman Gold Corp. ("Freeman"), effective October 16, 2024 (the "Acquisition"). Each Subject Unit consists of one common share of Freeman ("Share") and one common share purchase warrant ("Warrant") exercisable at $0.08 for a period of nine months from the date of issuance. Th ...

With consumers tightening their spending habits, one would assume the consumer discretionary sector and, specifically, the restaurant industry would be feeling the sting. However, this isn't the case for some restaurants as they continue to navigate the macroeconomic climate masterfully, still collecting tight-fisted consumer dollars while maintaining strong margins. Some restaurants' stocks are cut above the rest. In this case, you can still have your CAKE and EAT it, too, with these two restaurant stocks ...