Cheesecake Factory meets its fourth-quarter profit forecasts

The Cheesecake Factory on Wednesday reported fourth-quarter earnings of $57.7 million.

On a per-share basis, the Calabasas Hills, California-based company said it had profit of $1.24. Earnings, adjusted for pretax gains, were 53 cents per share.

The results met Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was also for earnings of 53 cents per share.

The restaurant chain posted revenue of $571.8 million in the period, beating Street forecasts. Eight analysts surveyed by Zacks expected $566.6 million.

For the year, the company reported profit of $157.4 million, or $3.27 per share. Revenue was reported as $2.26 billion.

Cheesecake Factory shares have dropped 4 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $46.23, a decrease of 24 percent in the last 12 months.

Be the first to comment

Leave a Reply

Your email address will not be published.