The Cheesecake Factory(CAKE) - 2026 Q1 - Quarterly Results

Financial Performance - Total revenues for Q1 fiscal 2025 were $927.2 million, up 4.0% from $891.2 million in Q1 fiscal 2024[2] - Net income for Q1 fiscal 2025 was $32.9 million, with diluted net income per share at $0.67[2] - Adjusted net income for Q1 fiscal 2025 was $45.7 million, with adjusted diluted net income per share at $0.93[3] - Total revenues for the 13 weeks ended April 1, 2025, were $927.2 million, a 4.0% increase from $891.2 million for the same period in 2024[20] - The company reported a net income (GAAP) of $32.9 million for the 13 weeks ended April 1, 2025, compared to $33.2 million in the prior year[28] - Adjusted net income (non-GAAP) for the 13 weeks ended April 1, 2025, was $45.7 million, up from $35.6 million in the same period last year[28] - The adjusted diluted net income per share (non-GAAP) was $0.93 for the 13 weeks ended April 1, 2025, compared to $0.73 in the prior year[28] Comparable Restaurant Sales - Comparable restaurant sales increased by 1.0% year-over-year in Q1 fiscal 2025[4] - Comparable restaurant sales for The Cheesecake Factory increased by 1.0% compared to a decline of 0.6% in the prior year[22] - North Italia's comparable restaurant sales decreased by 1% compared to an increase of 3% in the prior year[22] Restaurant Openings - The company opened eight new restaurants in Q1 fiscal 2025 and plans to open up to 25 new restaurants throughout the fiscal year[6][7] - The company opened 3 new North Italia restaurants during the period, increasing the total to 45[22] - The Cheesecake Factory operated 215 restaurants at the end of the period, down from 216 a year earlier[22] Liquidity and Debt - Total available liquidity as of April 1, 2025, was $501.9 million, including a cash balance of $135.4 million[9] - Cash and cash equivalents increased to $135.4 million as of April 1, 2025, from $84.2 million a year earlier[24] - Long-term debt rose to $627.3 million as of April 1, 2025, compared to $452.1 million at the end of 2024[24] Shareholder Returns - The Board of Directors declared a quarterly dividend of $0.27 per share to be paid on May 27, 2025[10] - The company repurchased approximately 2.6 million shares of common stock at a cost of $141.4 million in Q1 fiscal 2025[10] Other Financial Items - The company reported a pre-tax net expense of $17.3 million related to debt extinguishment and acquisition-related items[3] - The company issued $575 million of 2.00% convertible senior notes due 2030 on February 28, 2025[8]