Cheesecake Factory Posts Record Q3 Revenue of $1.03B, 15.2% Comps, EPS Up 80%
CAKE has more than doubled off its 52-week low of $43.07.
Summary
Cheesecake Factory reported record Q3 revenue of $1,033.4 million with 15.2% comparable sales growth and adjusted EPS of $1.02, up 50% year over year, and guided to roughly $4.09 billion in 2026 sales.
Key Events · Earnings and Guidance · CAKE
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Record Q3 Revenue, 15.2% Comps
Total revenues were $1,033.4 million versus $907.2 million a year ago, with comparable sales at The Cheesecake Factory restaurants up 15.2%.
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Earnings Nearly Double
Net income was $61.3 million, or $1.19 diluted EPS, versus $31.9 million and $0.66; adjusted diluted EPS was $1.02, up 50% from $0.68.
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2026 Guidance Set
Management assumes consolidated sales of approximately $4.09 billion, a net income margin of roughly 5.75%, and cash capital expenditures of approximately $210 million, with as many as 26 new restaurant openings.
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Liquidity and Convertible Notes
Total available liquidity was $585.3 million, including $249.3 million of cash and $336.0 million of revolver availability, against $575 million principal of 2.00% convertible senior notes due 2030.
Analysis · CAKE · Trade & Services
This is a genuine beat-and-raise quarter, not an in-line print. Revenue of $1,033.4 million rose 14%, and comparable sales at the namesake brand jumped 15.2% — a sharp acceleration from the 5.8% comp posted in Q2 and far ahead of the casual dining industry. Operating income nearly doubled to $74.9 million as food and labor costs each fell as a percentage of sales, and adjusted diluted EPS of $1.02 came in 50% above last year. Management also laid out 2026 assumptions of roughly $4.09 billion in consolidated sales and a ~5.75% net income margin, with as many as 26 new restaurant openings. The balance sheet is comfortable: $585.3 million of total liquidity against $575 million of 2.00% convertible notes due 2030. The one soft spot is North Italia, where comparable sales fell 3%. Against a backdrop of heavy insider selling over the past 90 days, this quarter is the fundamental counterweight — the operating momentum is real, and the stock's reaction will hinge on whether investors believe 15% comps are sustainable or a one-quarter pop.
How filings like this one have moved
In the 30 days to Oct 27, 2026, 36.2% of the 898 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.75%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, CAKE was trading at $107.50 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $5.4B. The 52-week trading range was $43.07 to $118.63. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.