Cheesecake Factory (CAKE) Misses Q3 EPS by 30c

Cheesecake Factory (NASDAQ: CAKE) reported Q3 EPS of ($0.03), $0.30 worse than the analyst estimate of $0.27. Revenue for the quarter came in at $784 million versus the consensus estimate of $799.28 million.

During the third quarter of fiscal 2022, we opened The Cheesecake Factory in Katy, TX, a suburb of Houston, a North Italia in Dunwoody, GA, a suburb of Atlanta, and a Fly Bye in Phoenix, AZ.

The Company now expects to open as many as 13 new restaurants in fiscal 2022, including as many as three Cheesecake Factory restaurants, four North Italia restaurants, and as many as six FRC restaurants, including three Flower Child locations. This includes the opening of The Cheesecake Factory Opry Mills in Nashville, TN, a North Italia in The Woodlands, TX, a suburb of Houston, and a Flower Child in Austin, TX subsequent to third quarter-end.

In addition, in fiscal 2022 the Company expects one Cheesecake Factory restaurant to open internationally under a licensing agreement.

For earnings history and earnings-related data on Cheesecake Factory (CAKE) click here.

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