Cheesecake Factory (CAKE) Tops Q3 EPS by 9c
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Cheesecake Factory (NASDAQ: CAKE) reported Q3 EPS of $0.70, $0.09 better than the analyst estimate of $0.61. Revenue for the quarter came in at $560 million versus the consensus estimate of $556.15 million.
Comparable restaurant sales at The Cheesecake Factory restaurants increased 1.7% in the third quarter of fiscal 2016.
“We delivered our 27th consecutive quarter of positive comparable sales as we continue to create unique dining experiences for our guests, supporting consistent and predictable performance,” said David Overton, Chairman and Chief Executive Officer. “We meaningfully outpaced the casual dining industry during the third quarter, underscoring our differentiated positioning as we remain a destination of choice in a competitive landscape.”
Overton concluded, “Sales leverage and effective cost management drove solid year-over-year operating margin expansion and earnings growth. We are executing at a high level operationally, positioning us well for a strong finish to 2016 and as we look ahead to 2017.”
For earnings history and earnings-related data on Cheesecake Factory (CAKE) click here.
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