Core Insights - The Cheesecake Factory reported mixed results for Q3, with earnings per share of 68 cents exceeding the analyst consensus estimate of 60 cents, while sales of $907.226 million fell short of the expected $912.784 million [1][2]. Financial Performance - Quarterly earnings were 68 cents per share, beating the analyst consensus estimate of 60 cents per share [1]. - Quarterly sales amounted to $907.226 million, missing the analyst consensus estimate of $912.784 million [1]. Management Commentary - CEO David Overton highlighted solid results, with revenue within guidance and earnings exceeding expectations, driven by strong performance at The Cheesecake Factory restaurants [2]. - The company achieved year-over-year improvements in labor productivity, wage management, and staff retention, contributing to healthy margins [2]. - Two new restaurant openings in Q3 are on track to meet the unit growth objective for the year [2]. Market Reaction - Following the earnings announcement, Cheesecake Factory shares declined by 4.8%, trading at $51.73 [2]. Analyst Ratings and Price Targets - Stephens & Co. analyst Jim Salera maintained an Overweight rating but lowered the price target from $70 to $64 [5]. - B of A Securities analyst Katherine Griffin maintained a Neutral rating and reduced the price target from $61 to $56 [5].