EarningsQ2 2026 Earnings Report
MX:CAKE Q2 2026 EPS Results
Actual EPS$24.68
Consensus EPS$20.21
Beat/MissBeat by +$4.47
One Year Ago EPS$19.88
MX:CAKE Q2 2026 Revenue Results
Actual Revenue$17.65B
Expected Revenue$17.13B
Beat/MissBeat by +$515.89M
YoY Revenue Growth+7.72%
Earnings Announcement Details
QuarterQ2 2026
Date07/28/2026
TimeAfter Close
Conference CallTuesday, July 28, 2026
MX:CAKE Upcoming Earnings
Cheesecake Factory's next earnings date is estimated for November 3, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:CAKE Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive tone driven by record revenue (> $1.0B), strong EPS growth (+24% adjusted), record net income (+25%) and EBITDA (+18%), robust restaurant-level margins (20% at The Cheesecake Factory), and healthy performances from core and growth concepts (notably Flower Child). These positives were tempered by isolated challenges at North Italia (comps down 3% and margin contraction), modest commodity cost pressure, higher G&A and expected lower near-term margins (Q3 midpoint ~4.3%). Overall, the favorable operating momentum, rewards/app traction, and balance-sheet flexibility substantially outweigh the discrete headwinds.Company Guidance
Record Revenue and Strong EPS
Total quarterly revenue surpassed $1.0 billion for the first time; adjusted diluted EPS was $1.44, a 24% increase year-over-year; GAAP diluted EPS was $1.41.
Record Profitability and EBITDA
Recorded quarterly net income of $68 million, up 25% year-over-year, and record adjusted EBITDA of $118 million, up 18% year-over-year.
The Cheesecake Factory Same-Store Sales and Traffic Outperformance
The Cheesecake Factory restaurants delivered comparable sales growth of 5.8% and positive traffic of +2.7%; outperformed the Black Box Casual Dining Index by ~350 basis points.
Improved Restaurant-Level Margins
Restaurant-level margin at The Cheesecake Factory increased to 20%, the highest level in a decade; labor as a percent of sales declined 80 basis points driven by sales leverage and productivity gains.
Menu Innovation and Rewards App Driving Engagement
Twice-yearly menu updates (Bites and Bowls) and new product launches have driven frequency; Cheesecake Rewards app launched with strong adoption (briefly reached top-three app downloads), fueling member acquisition and personalized offers.
Strong Performance from Other Concepts, Especially Flower Child
Flower Child comparable sales increased 13% in Q2 (2-year comp +17%), annualized AUVs of $5.3M and restaurant-level margin of 20.1%; North Italia annualized AUVs of $7.9M (despite comps pressure).
Robust Balance Sheet and Capital Returns
Total available liquidity $561.7M (cash $195.2M + $366.5M revolver); repaid $69M principal on near-term convertible notes; returned $25M to shareholders in Q2 (dividends + repurchases); Q2 CapEx ~$43M and full-year CapEx guidance ~$210M.
Development Momentum and Unit Growth Plans
Opened 4 restaurants in Q2 and remain on track to open as many as 26 restaurants in 2026, consistent with ~7% annual unit growth objective; third quarter expected to include six openings.
MX:CAKE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed