Reported Q: Q2 2024 Rev YoY: +8.9% EPS YoY: +197.3% Move: +0.38%
The Cheesecake Factory
CAKE
$63.49 0.38%
Exchange NASDAQ Sector Consumer Cyclical Industry Restaurants
Q2 2024
Published: Jun 30, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for CAKE

Reported

Report Date

Jun 30, 2024

Quarter Q2 2024

Revenue

904.04M

YoY: +8.9%

EPS

1.08

YoY: +197.3%

Market Move

+0.38%

Previous quarter: N/A

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Earnings Highlights

  • Revenue of $904.04M up 8.9% year-over-year
  • EPS of $1.08 increased by 197.3% from previous year
  • Gross margin of 13.4%
  • Net income of 52.44M
  • ""We delivered another solid quarter with revenues finishing towards the higher end of our expected range and profitability surpassing expectations resulting in 24% year-over-year growth in adjusted earnings per share."" - David Overton
CAKE
The Cheesecake Factory Incorporated

Executive Summary

The Cheesecake Factory delivered a strong second quarter for fiscal 2024, with total revenues reaching $904 million, marking an 8.89% increase year-over-year (YOY). The company achieved a notable growth of 24% in adjusted earnings per share (EPS), demonstrating three consecutive quarters with over 20% growth. Management remains optimistic about the brand's resilience in the competitive casual dining sector, evidenced by a comparable sales growth of 1.4%, outperforming the casual dining industry average. Strong operational metrics, including a Cheesecake Factory restaurants' 4-wall margin of 17.7%, the highest in six years, reflect effective cost management and productivity improvements. Management has reiterated its commitment to expanding the restaurant footprint, forecasting a total of 22 new openings in 2024, indicative of sustained growth potential. However, external challenges such as inflation in labor and commodities remain a watchpoint for investors, underscoring the need for continued operational excellence.

Key Performance Indicators

Revenue
Increasing
904.04M
QoQ: 0.00% | YoY: 8.89%
Gross Profit
Decreasing
121.01M
13.39% margin
QoQ: 0.00% | YoY: -63.75%
Operating Income
Increasing
66.63M
QoQ: 0.00% | YoY: 250.11%
Net Income
Increasing
52.44M
QoQ: 0.00% | YoY: 192.25%
EPS
Increasing
1.10
QoQ: 0.00% | YoY: 197.30%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 927.20 0.67 +2.6% View
Q4 2024 920.96 0.84 +1.9% View
Q3 2024 865.47 0.61 -2.9% View
Q2 2024 904.04 1.08 +8.9% View