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Mar 30, 2021
The Cheesecake Factory Q1 2021 Earnings Report
The Cheesecake Factory's first quarter results for fiscal year 2021 were released.
Key Takeaways
The Cheesecake Factory Incorporated reported total revenues of $627.4 million, a net loss of $1.2 million, and an adjusted net income of $10.8 million for the first quarter of fiscal 2021. Comparable restaurant sales at The Cheesecake Factory restaurants increased 2.8% year-over-year.
Total revenues reached $627.4 million compared to $615.1 million in the first quarter of fiscal 2020.
Net loss available to common stockholders was $1.2 million, or $0.03 per share.
Adjusted net income was $10.8 million, or $0.20 per share.
Comparable restaurant sales at The Cheesecake Factory restaurants increased 2.8% year-over-year.
Revenue by Segment
Forward Guidance
The Cheesecake Factory anticipates continued strength in off-premise sales and expects its team to differentiate it in the COVID-19 operating environment as it emerges from the pandemic.
Positive Outlook
- Second quarter-to-date comparable sales at The Cheesecake Factory restaurants increased over 2019 levels.
- Comparable sales for The Cheesecake Factory restaurants increased approximately 220% year-over-year through April 27th.
- Comparable sales increased 7% relative to the same period in fiscal 2019.
- Performance demonstrates the power of The Cheesecake Factory brand.
- Operators delivered delicious, memorable experiences for guests and also exceeded expectations across key performance indicators, including operating margins.
Challenges Ahead
- The rapidly evolving nature of the COVID-19 pandemic and related containment measures.
- Potential for a complete shutdown of the Company’s restaurants, international licensee restaurants and the Company’s bakery operations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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