The Cheesecake Factory (CAKE) Reports Earnings Tomorrow: What To Expect
The Cheesecake Factory met analysts' revenue expectations last quarter, reporting revenues of $927.2 million, up 4% year on year. It was a strong quarter for the company, with an impressive beat of analysts' EBITDA estimates and a decent beat of analysts' EPS estimates.
Is The Cheesecake Factory a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting The Cheesecake Factory's revenue to grow 4.9% year on year to $948.3 million, in line with the 4.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.06 per share.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 8 downward revisions over the last 30 days (we track 15 analysts). The Cheesecake Factory has missed Wall Street's revenue estimates four times over the last two years.
Looking at The Cheesecake Factory's peers in the restaurants segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Kura Sushi delivered year-on-year revenue growth of 17.3%, beating analysts' expectations by 2.5%, and Darden reported revenues up 10.6%, in line with consensus estimates. Kura Sushi traded down 11.8% following the results while Darden's stock price was unchanged.
Read our full analysis of Kura Sushi's results here and Darden's results here.
There has been positive sentiment among investors in the restaurants segment, with share prices up 2.7% on average over the last month. The Cheesecake Factory is up 6% during the same time and is heading into earnings with an average analyst price target of $62.41 (compared to the current share price of $66.39).
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