The Cheesecake Factory CAKE just released its fourth quarter 2016 financial results, posting earnings of $0.67 per share and revenues of $603 million.
Currently, The Cheesecake Factory is a Zacks Rank #4 (Sell) and is down almost 1% to $60.10 per share in trading shortly after its earnings report was released.
Matched earnings estimates. The company posted earnings of $0.67 per share, matching the Zacks Consensus Estimate of $0.67 per share.
Beat revenue estimates. The company saw revenue figures of $603 million, beating our consensus estimate of $594 million.
The Cheesecake Factory’s Q4 revenue grew by 14% to $603.1 million compared to the year ago period of $526.8 million.
Investors should note that the fourth quarter of fiscal 2016 had 14 weeks compare to 13 weeks in the fourth quarter of fiscal 2015. The additional week in fiscal 2016 contributed approximately $54.7 million in sales.
“We delivered our 28th consecutive quarter of positive comparable sales, making seven years of strong financial performance and meaningful shareholder value creation,” said David Overton, Chairman and CEO. “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.”
Here’s a graph that looks at The Cheesecake Factory:
The Cheesecake Factory Incorporated Price and Consensus
The Cheesecake Factory Incorporated Price and Consensus | The Cheesecake Factory Incorporated Quote
The Cheesecake Factory operates many upscale, high volume, casual dining restaurants. They offer over 200 menu items including appetizers, pizza, seafood, steaks, chicken, burger, pasta, salads, sandwiches, omelets and signature desserts including over 40 varieties of cheesecake.
Check back later for our full analysis on The Cheesecake Factory’s earnings report!
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