"Solid sales and exceptional operational execution in the quarter resulted in adjusted earnings per share growth of 49% from the prior year." - David Overton, CEO
— David Overton
03Detailed Report
CAKE
The Cheesecake Factory Incorporated
Period
Q3 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 20, 2026
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Executive Summary
In the third quarter of fiscal 2024, The Cheesecake Factory Incorporated (CAKE) demonstrated resilience with stable revenue and robust profitability, highlighted by a notable 49% increase in adjusted earnings per share year-over-year. The company reported total revenues of $865 million, matching their guidance and reflecting a strong performance relative to industry trends. Key operational successes, including a high rate of customer satisfaction and successful openings of new locations, position The Cheesecake Factory well for future growth. Management emphasized their commitment to optimizing operations and expanding restaurant units as vital aspects of their strategy moving forward.
Key Performance Indicators
Revenue
Decreasing
865.47M
QoQ: 0.00% | YoY: -2.89%
Gross Profit
Decreasing
94.46M
10.91% margin
QoQ: 0.00% | YoY: -13.14%
Operating Income
Decreasing
38.25M
QoQ: -11.90% | YoY: -30.34%
Net Income
Decreasing
29.99M
QoQ: 0.00% | YoY: -9.63%
EPS
Decreasing
0.63
QoQ: 0.00% | YoY: -10.00%
Revenue Trend
Margin Analysis
Financial Highlights
The Cheesecake Factory's Q3 2024 resulted in total revenues of $865 million, unchanged from the previous quarter but showing a year-over-year increase. Key financial metrics include a gross profit of $94.5 million, yielding a gross profit margin of 10.9%. Operating income was $38.3 million, with a net income of approximately $30 million. Notably, the adjusted net income margin reached 3.3%, surpassing previous forecasts. The company boasts a strong liquidity position with over $289 million in available resources and a stable total debt at $475 million, indicating solid balance sheet health amid expansion plans.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
865.47M
-2.89%
0.00%
Gross Profit
94.46M
-13.14%
0.00%
Operating Income
38.25M
-30.34%
-11.90%
Net Income
29.99M
-9.63%
0.00%
EPS
0.63
-10.00%
0.00%
Key Financial Ratios
Gross Profit Margin
Weak
10.90%
Gross profit margin is below industry norms, profitability concerns
Operating Profit Margin
Weak
4.42%
Operating margin is below industry norms, profitability concerns
Net Profit Margin
Fair
3.47%
Net profit margin is moderate, room for improvement in cost management
P/E Ratio
Fair Value
16.14x
P/E ratio in line with market averages
Management Insights Available for Members
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