Categories Consumer, Earnings

Cheesecake Factory (CAKE): Q4 2019 Earnings Snapshot

— Restaurant operator The Cheesecake Factory Incorporated (NASDAQ: CAKE) reported an 8% decline in adjusted earnings for the fourth quarter of 2019 to $0.58 per share from last year, versus $0.60 per share expected.

— Revenues climbed by 19% to $694 million versus $706.21 million expected.

Earnings Update by AlphaStreet

— Comparable restaurant sales increased by 0.6% year-over-year. The comps outperformed the casual dining industry.

— The unadjusted earnings soared by 201% due to the inclusion of the acquisition of North Italia and the remaining business of Fox Restaurant Concepts. The results also reflected a gain on an investment in unconsolidated affiliates as well as an impairment and lease termination charge.

— The company’s board of directors declared a quarterly cash dividend of $0.36 per share of its common stock. The dividend is payable on March 20, 2020, to shareholders of record on March 9, 2020.

— Separately, the company announced the expansion of its board from seven to eight members and appointed Janice L. Meyer as an independent member. Meyer will also serve on the Audit Committee and will stand for election at the 2020 Annual Meeting.

We’re on Flipboard! Follow us to receive the latest stock market, earnings, and financial news at your fingertips

Most Popular

What to look for when CVS Health (CVS) reports Q3 earnings

Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain

eBay (EBAY): A few factors that helped drive growth in Q3 2024

Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,

CVX Earnings: Chevron reports lower revenue and profit for Q3 2024

Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top