CAKE (Post-Call) Baking Up an Evolving Company
By Mark Kalinowski
Published on October 29, 2019 at 12:00 AM
After today’s (Tuesday’s) market close, The Cheesecake Factory (CAKE; Neutral) reported adjusted Q3 EPS of $0.59, coming in ahead of our $0.55 forecast and sellside consensus (according to Consensus Metrix) of $0.55. We attribute the betterthan-expected earnings to favorable Cost of Sales/Revenues (22.7% actual vs. 23.4% forecasted).