CAKE (Post-Call) Q3 Same-Store Sales a Little Less Fluffy Than Expected
By Mark Kalinowski
Published on October 30, 2018 at 12:00 AM
After Tuesday’s market close, The Cheesecake Factory (CAKE; Neutral) reported Q3 adjusted EPS of $0.62, ahead of our $0.57 forecast and the sell-side consensus of $0.58, as measured by Consensus Metrix. By our math, a lower-than-expected tax rate (5.9% actual vs. 12.9% forecasted) helped Q3 EPS by about $0.04-$0.05.