Cheesecake Factory Q3 2024 Adj EPS $0.58 Beats $0.49 Estimate, Sales $865.47M Miss $866.19M Estimate
Portfolio Pulse from Benzinga Newsdesk
Cheesecake Factory reported Q3 2024 earnings per share of $0.58, surpassing the expected $0.49, but sales slightly missed estimates at $865.47 million compared to the expected $866.19 million. Sales increased by 4.25% from the previous year.
October 29, 2024 | 8:20 pm
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POSITIVE IMPACT
Cheesecake Factory's Q3 2024 earnings per share exceeded expectations, but sales slightly missed estimates. Despite the sales miss, there was a year-over-year increase in sales.
The positive earnings surprise is likely to have a favorable impact on the stock price in the short term, as EPS beat expectations by a significant margin. The slight miss in sales is less concerning given the year-over-year growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100