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Cheesecake Factory (CAKE) guidance and outlook
Cheesecake Factory's 10-Q filed Nov 2, 2026 makes 13 forward-looking statements.
Guidance and outlook
Forward-looking statements, 10-Q filed Nov 2, 2026
- We plan to continue expanding The Cheesecake Factory, North Italia and Flower Child concepts.
- Prior to fiscal 2022, we targeted menu price increases of approximately 2% to 3% annually, utilizing a market-based strategy to help mitigate cost pressure in higher-wage geographies.
- We will continue to take the cost and inflationary environment into consideration when implementing future pricing decisions.
- We plan to employ a balanced capital allocation strategy, comprised of investing in new restaurants that are expected to meet our targeted returns, managing our aggregate debt levels and returning capital to shareholders through our dividend and share repurchase programs.
- Future decisions to pay, increase or decrease dividends or to repurchase shares are at the discretion of the Board and will be dependent on a number of factors, including limitations pursuant to the terms and conditions of our Loan Agreement and applicable law.
- The increase was primarily due to deleverage on higher annual forecasted income before taxes, primarily due to employment credits (5.0%), partially offset by a greater tax windfall in the first nine months of fiscal 2026 as compared to the comparable prior period related to equity compensation (1.5%) and non-deductible costs in fiscal 2025 associated with the repurchase of our 2026 Notes (1.0%).
- Our inclusion of these adjusted measures should not be construed as an indication that our future results will be unaffected by unusual or infrequent items.
- We expect to open as many as 26 new restaurants in fiscal 2026 across our portfolio of concepts.
- We anticipate approximately $210 million in capital expenditures to support this level of unit development, as well as required maintenance on our restaurants.
- In connection with the cash dividend that was declared by our Board on October 21, 2026, we will, on November 10, 2026, adjust the conversion rate (which is expected to increase) and the conversion price (which is expected to decrease) of the 2030 Notes in accordance with the terms of the indenture governing the 2030 Notes.
- Future decisions to pay or to increase or decrease dividends are at the discretion of the Board and will be dependent on our operating performance, financial condition, capital expenditure requirements, limitations on cash distributions pursuant to the terms and conditions of the Loan Agreement and applicable law, and other such factors that the Board considers relevant.
- Future decisions to repurchase shares are at the discretion of the Board and are based on several factors, including current and forecasted operating cash flows, capital needs associated with new restaurant development and maintenance of existing locations, dividend payments, debt levels and cost of borrowing, obligations associated with the FRC acquisition, our share price and current market conditions.
Cheesecake Factory's latest quarter
Cheesecake Factory, Q3 2026: revenue $1.0B (+14% year over year), operating margin 7.2%, net earnings $61.3M, operating cash flow $125M. The chart follows the revenue to costs, profit and cash.
Questions
What does Cheesecake Factory expect?
We plan to continue expanding The Cheesecake Factory, North Italia and Flower Child concepts. Prior to fiscal 2022, we targeted menu price increases of approximately 2% to 3% annually, utilizing a market-based strategy to help mitigate cost pressure in higher-wage geographies. We will continue to take the cost and inflationary environment into consideration when implementing future pricing decisions.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.