Cheesecake Factory Reports Preliminary Q2 2024 Results

Ticker: CAKE · Form: 8-K · Filed: 2024-07-31T00:00:00.000Z

Sentiment: neutral

Topics: earnings, revenue, guidance

TL;DR

Cheesecake Factory's Q2 sales up 1.5% at Cheesecake spots, EPS $0.55-$0.65.

AI Summary

The Cheesecake Factory Incorporated announced preliminary results for the fiscal quarter ended July 2, 2024, on July 25, 2024. The company expects total revenue to be approximately $875 million, with comparable restaurant sales increasing by 1.5% at The Cheesecake Factory and 3.0% across all its concepts. Diluted earnings per share are projected to be between $0.55 and $0.65.

Why It Matters

This filing provides investors with an early look at the company's financial performance for the second quarter, indicating sales trends and profitability ahead of the official earnings release.

Risk Assessment

Risk Level: low — This is a routine earnings pre-release and does not involve significant new risks or changes to the business.

Key Numbers

Key Players & Entities

FAQ

What is the expected total revenue for the quarter?

The Cheesecake Factory Incorporated expects total revenue to be approximately $875 million for the fiscal quarter ended July 2, 2024.

What was the comparable sales growth at The Cheesecake Factory restaurants?

Comparable restaurant sales increased by 1.5% at The Cheesecake Factory for the fiscal quarter ended July 2, 2024.

What is the projected diluted earnings per share?

The company projects diluted earnings per share to be between $0.55 and $0.65 for the fiscal quarter ended July 2, 2024.

When did the company announce these preliminary results?

The preliminary results were announced on July 25, 2024.

What is the comparable sales growth across all of the company's concepts?

Comparable restaurant sales increased by 3.0% across all of The Cheesecake Factory Incorporated's concepts for the fiscal quarter ended July 2, 2024.

Filing Stats: 672 words · 3 min read · ~2 pages · Grade level 11.8 · Accepted 2024-07-31 16:30:41

Key Financial Figures

Filing Documents

02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION In a press release dated July 31, 2024, a copy of which is furnished as Exhibit 99.1 to this report, The Cheesecake Factory Incorporated (the "Company") reported financial results for the second quarter of fiscal 2024, which ended on July 2, 2024.

01 REGULATION FD DISCLOSURE

ITEM 7.01 REGULATION FD DISCLOSURE Also on July 31, 2024, the Company posted an updated Investor Presentation on the Company's Investor Relations website at investors.thecheesecakefactory.com. A copy of the presentation is furnished as Exhibit 99.2 hereto and is incorporated by reference herein.

01 OTHER EVENTS

ITEM 8.01 OTHER EVENTS Additionally, on July 25, 2024, the Board of Directors of the Company (the "Board") declared a quarterly cash dividend of $0.27 per share which will be paid on August 27, 2024 to the stockholders of record of each share of the Company's common stock at the close of business on August 14, 2024. Future decisions to pay or to increase or decrease dividends are at the discretion of the Board and will depend upon operating performance and other factors.

01 FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits 99.1 Press release dated July 31, 2024 entitled "The Cheesecake Factory R eports Results for Second Quarter of Fiscal 2024" 99.2 The Cheesecake Factory Investor Presentation dated July 31, 2024 104.1 Cover Page Interactive Data File (embedded within the inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: July 31, 2024 THE CHEESECAKE FACTORY INCORPORATED By: /s/ Matthew E. Clark Matthew E. Clark Executive Vice President and Chief Financial Officer

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