Cheesecake Factory (CAKE) Misses Q2 Earnings Estimates
Wednesday, August 1, 2018
Cheesecake Factory (CAKE) just came out with quarterly earnings of $0.65 per share, missing the Zacks Consensus Estimate of $0.81 per share. This compares to earnings of $0.78 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -19.75%. A quarter ago, it was expected that this restaurant chain would post earnings of $0.68 per share when it actually produced earnings of $0.56, delivering a surprise of -17.65%.
Over the last four quarters, the company has not been able to surpass consensus EPS estimates.
Cheesecake Factory, which belongs to the Zacks Retail - Restaurants industry, posted revenues of $593.18 million for the quarter ended June 2018, surpassing the Zacks Consensus Estimate by 0.55%. This compares to year-ago revenues of $569.87 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Cheesecake Factory shares have added about 18.7% since the beginning of the year versus the S&P 500's gain of 4.8%.