The earnings call reflects a strong financial performance with record-breaking revenue and significant improvement in profit margins, supported by robust sales growth in the Cheesecake Factory, North Italia, and Flower Child segments. Operational excellence and successful new restaurant openings further reinforce the positive outlook. However, challenges such as the North Italia comparable sales decline and traffic declines indicate areas needing attention.

Company Guidance

During The Cheesecake Factory's Q2 2025 earnings call, the company reported record-high results, with consolidated revenues reaching $956 million and adjusted earnings per share setting new milestones. The Cheesecake Factory restaurants saw comparable sales increase by 1.2%, driving average weekly sales to nearly $12.8 million, while North Italia reported a 2% increase in annualized AUVs to $8 million despite a 1% decline in comparable sales. Flower Child's comparable sales surged by 4%, resulting in average weekly sales of $91,400. The company's 4-wall restaurant margin improved by 80 basis points year-over-year to 18.5%, marking the highest level in eight years, thanks to operational excellence and demand across its high-quality concepts. The company successfully opened eight new restaurants in the quarter and plans to open up to 25 new restaurants in 2025. Looking ahead, The Cheesecake Factory anticipates total revenues for fiscal 2025 to be approximately $3.76 billion, with a focus on operational execution, strategic menu innovations, and leveraging its rewards program to drive engagement and loyalty.

Record-Breaking Revenue

Total revenues reached $956 million, with adjusted net income margin of 5.8%, exceeding the high end of the guidance ranges provided.

Strong Comparable Sales Growth

Comparable sales at The Cheesecake Factory restaurants increased 1.2%, with record high average weekly sales driving realized unit volumes to nearly $12.8 million for the quarter.

Profit Margin Improvement

Cheesecake Factory's 4-wall restaurant margin increased to 18.5%, up 80 basis points year-over-year, the highest level recorded in 8 years.

Successful New Restaurant Openings

Successfully opened 8 restaurants in the second quarter, including 2 Cheesecake Factory restaurants, 1 North Italia, 3 Flower Child, and 2 FRC restaurants.

North Italia Performance

Second quarter annualized AUVs for North Italia increased 2%, reaching $8 million, with early performance in new markets exceeding expectations by 40% above Q2 system average.

Flower Child Growth

Second quarter comparable sales for Flower Child increased 4%, significantly outperforming the Black Box fast casual dining index, with average weekly sales reaching $91,400.

Operational Excellence

Notable improvements in labor productivity, food efficiencies, and wage management, with internal Net Promoter Score metrics improving across nearly all key areas.

Cheesecake Factory (CAKE) Earnings, Revenues Date & History

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CAKE Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 29, 2025	2025 (Q3)	0.60 / -	0.58	―	―	―
Jul 29, 2025	2025 (Q2)	1.06 / 1.16	1.09	6.42% (+0.07)
Apr 30, 2025	2025 (Q1)	0.82 / 0.93	0.73	27.40% (+0.20)
Feb 19, 2025	2024 (Q4)	0.92 / 1.04	0.8	30.00% (+0.24)
Oct 29, 2024	2024 (Q3)	0.51 / 0.58	0.39	48.72% (+0.19)
Jul 31, 2024	2024 (Q2)	1.00 / 1.09	0.88	23.86% (+0.21)
May 08, 2024	2024 (Q1)	0.63 / 0.73	0.61	19.67% (+0.12)
Feb 21, 2024	2023 (Q4)	0.73 / 0.80	0.56	42.86% (+0.24)
Nov 01, 2023	2023 (Q3)	0.42 / 0.39	-0.03	1400.00% (+0.42)
Aug 02, 2023	2023 (Q2)	0.82 / 0.88	0.52	69.23% (+0.36)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CAKE Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 29, 2025	$62.90	$66.18	+5.21%
Apr 30, 2025	$49.90	$47.71	-4.39%
Feb 19, 2025	$53.49	$54.16	+1.25%
Oct 29, 2024	$41.99	$45.70	+8.84%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.