Cheesecake Factory (CAKE) Misses Q4 EPS by 1c

Cheesecake Factory (NASDAQ: CAKE) reported Q4 EPS of $0.66, $0.01 worse than the analyst estimate of $0.67. Revenue for the quarter came in at $603.1 million versus the consensus estimate of $595.05 million.

Comparable restaurant sales at The Cheesecake Factory restaurants increased 1.1% in the fourth quarter of fiscal 2016 (14 weeks vs. 14 weeks).

“We delivered our 28th consecutive quarter of positive comparable sales, marking seven years of strong financial performance and meaningful shareholder value creation,” said David Overton, Chairman and Chief Executive Officer. “We significantly outperformed the casual dining industry again during the fourth quarter as we continued to take market share.”

Overton concluded, “We delivered on all of our objectives in 2016, including producing solid comparable sales performance, achieving our domestic unit growth goal, expanding our international presence to a total of 15 locations and increasing operating margins, all of which contributed to approximately 20% earnings per share growth. By maintaining our differentiated positioning and commitment to operational excellence, we believe we will uphold our leadership position in the casual dining industry in 2017 and beyond.”

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

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