Cheesecake Factory Inc

Latest Results (03.07.2026):

Cheesecake Factory Inc reports results for the first quarter of fiscal 2026 (ended March 31, 2026): total revenues were $978.8 million, GAAP net income was $49.5 million (diluted EPS $1.02) and adjusted net income was $51.1 million (adjusted diluted EPS $1.05). Comparable restaurant sales at The Cheesecake Factory restaurants rose 1.6% year‑over‑year. Management cited stronger‑than‑expected revenue, margin and earnings performance and continued improvements in labor productivity and food efficiency.

Revenue & profitability

Q1 FY2026 revenue: $978.8M vs $927.2M a year ago. Income from operations was $55.0M (5.6% of revenue). GAAP net income $49.5M, diluted EPS $1.02. Adjusted net income (excluding impairment/lease termination and acquisition items) $51.1M, adjusted diluted EPS $1.05.

Comparable sales & operations

The Cheesecake Factory restaurants posted comparable sales +1.6% YoY in the quarter. North Italia comps were down ~2%. Management highlighted resiliency in guest demand and operational gains in labor productivity and food efficiency despite weather headwinds.

Segment mix

Q1 revenues by segment (thousands): The Cheesecake Factory ~$690.5M, North Italia ~$89.5M, FRC ~$104.5M, Other ~$94.4M. The Cheesecake Factory remains the largest contributor to consolidated revenues and operating income.

Liquidity & balance sheet

Available liquidity was $601.6M at March 31, 2026 (cash $235.1M + $366.5M revolver capacity). Total principal debt outstanding was $644.0M, including convertible notes due 2026 and 2030; current and long‑term debt, net was ~$631.0M on the balance sheet.

Capital allocation & shareholder returns

The company repurchased ~332,000 shares in Q1 for $19.2M. The board declared a quarterly cash dividend of $0.30 per share payable May 26, 2026.

Development & outlook for openings

During Q1 the company opened one North Italia, one Flower Child, one FRC and one international The Cheesecake Factory (Guadalajara). Subsequent to quarter end it opened another North Italia. The company expects to open as many as 26 new restaurants in FY2026 (including up to six The Cheesecake Factory locations).

Non‑GAAP adjustments & one‑time items

The company recorded a pre‑tax net expense of roughly $2.0M (impairment/lease termination and FRC acquisition‑related items). The Q1 2026 reconciliation shows impairment $0.8M and acquisition‑related items $1.2M; the tax effect used a 26% blended rate for adjusted results.