The Cheesecake Factory Incorporated (CAKE) Earnings: Q3 Fiscal 2026 Results

The quarter ended September 29, 2026 and The Cheesecake Factory published the results on October 27, 2026. Revenue and diluted EPS are shown against Q3 fiscal 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. The Cheesecake Factory reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted (non-GAAP), which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• The Cheesecake Factory reports on a 52/53-week fiscal year. Q3 fiscal 2026 is the 13 weeks ended September 29, 2026.
• The Other segment includes Flower Child and Grand Lux Cafe, the third-party bakery, international and consumer packaged goods businesses, unallocated corporate expenses and gift card costs. Other FRC covers all Fox Restaurant Concepts brands except Flower Child.
• GAAP results include $12.9 million of pre-tax income from FRC acquisition-related items, mainly a $13.2 million cut to the contingent consideration liability. Adjusted EPS excludes it.

Source: The Cheesecake Factory Q3 fiscal 2026 results, October 27, 2026. Also in the Form 10-Q for the quarter ended September 29, 2026. Figures as reported; checked against the release on November 10, 2026.

How The Cheesecake Factory splits revenue in its own release, under its own labels, for Q3 fiscal 2026 against Q3 fiscal 2025. Indented lines are parts of the line above them.

• The Cheesecake Factory's The Cheesecake Factory restaurants revenue was $754 million in Q3 fiscal 2026, up 16% from $651 million in Q3 fiscal 2025, 73% of total revenue.
• The Cheesecake Factory's North Italia revenue was $93.0 million in Q3 fiscal 2026, up 11% from $83.5 million in Q3 fiscal 2025, 9% of total revenue.
• The Cheesecake Factory's Other FRC revenue was $90.3 million in Q3 fiscal 2026, up 16% from $78.0 million in Q3 fiscal 2025, 9% of total revenue.
• The Cheesecake Factory's Other revenue was $95.8 million in Q3 fiscal 2026, up 1% from $94.4 million in Q3 fiscal 2025, 9% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

The restaurant openings outlook is in the release. The sales, margin and capital spending assumptions are from the investor presentation filed with it as Exhibit 99.2.

In its Q3 fiscal 2026 release, The Cheesecake Factory said:

“The Company continues to expect to open as many as 26 new restaurants in fiscal 2026, including as many as five The Cheesecake Factory restaurants, eight North Italia locations, seven Flower Child locations and as many as six FRC restaurants.”

“Consolidated Sales Approximately $4.09 Billion”

“Net Income Margin Targeting approximately ~5.75% at the stated sales level”

“Cash Capital Expenditures Approximately $210 Million”

Source: The Cheesecake Factory Q3 fiscal 2026 release and investor presentation, Oct 27, 2026.

This is the company's own guidance as of Oct 27, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the CAKE forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for The Cheesecake Factory's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 fiscal 2026 (this page), reported Oct 27, 2026

The Cheesecake Factory restaurants brought in $754.4 million of The Cheesecake Factory's $1,033.4 million of Q3 fiscal 2026 revenues, up 15.8%. North Italia added $93.0 million, the Other FRC brands $90.3 million and the Other segment $95.8 million. Total revenues rose 13.9%, which the company attributed to higher comparable restaurant sales and revenue from new restaurant openings. (The Cheesecake Factory Q3 fiscal 2026 release, Oct 27, 2026; The Cheesecake Factory Form 10-Q, Q3 fiscal 2026, Nov 2, 2026)

Comparable sales at The Cheesecake Factory restaurants rose 15.2%, or $97.0 million. The 10-Q breaks that into customer traffic up 9.5% and average check up 5.7%, of which 2.4% came from menu pricing and 3.3% from menu mix. The company took effective menu price increases of about 1.5% in both the first and third quarters of fiscal 2026. Average sales per restaurant operating week rose 15.4% to $267,698. (The Cheesecake Factory Form 10-Q, Q3 fiscal 2026, Nov 2, 2026)

The other concepts moved in different directions. North Italia sales rose 11.4% on 11.5% more operating weeks, but its comparable sales fell about 3% as traffic dropped 5%. Flower Child sales rose 17.3% to $56.5 million with comparable sales up about 11%, and Other FRC sales rose 15.8% to $90.3 million. (The Cheesecake Factory Form 10-Q, Q3 fiscal 2026, Nov 2, 2026)

Off-premise sales were about 21% of restaurant sales in both Q3 fiscal 2026 and Q3 fiscal 2025. The Cheesecake Factory operated 380 company-owned restaurants at quarter end (218 The Cheesecake Factory, 52 North Italia, 59 Other FRC and 51 Other), and 35 The Cheesecake Factory restaurants operate abroad under licensing agreements. It opened six restaurants in the quarter. (The Cheesecake Factory Form 10-Q, Q3 fiscal 2026, Nov 2, 2026; The Cheesecake Factory Q3 fiscal 2026 release, Oct 27, 2026)

The Cheesecake Factory's GAAP diluted EPS of $1.19 was above its adjusted EPS of $1.02 in Q3 fiscal 2026. GAAP results include $12.9 million of income from FRC acquisition-related items: the company cut the fair value of the contingent consideration and compensation liability by $13.2 million after a revised assessment that the targets would not be met, partly offset by $0.3 million of amortization. Adjusted EPS removes that item, lease and impairment items, uncertain tax positions and their tax effect. (The Cheesecake Factory Q3 fiscal 2026 release, Oct 27, 2026; The Cheesecake Factory Form 10-Q, Q3 fiscal 2026, Nov 2, 2026)

Diluted weighted average shares rose to 51,473 thousand from 48,616 thousand a year earlier, and the convertible notes added 2,344 thousand dilutive shares under the if-converted method, against none a year earlier. The $575 million of 2.00% convertible senior notes due 2030 became convertible at holders' option on September 30, 2026. The company repurchased about 29,800 shares for $2.4 million in the quarter and declared a $0.30 quarterly dividend. (The Cheesecake Factory Form 10-Q, Q3 fiscal 2026, Nov 2, 2026; The Cheesecake Factory Q3 fiscal 2026 release, Oct 27, 2026)

The effective income tax rate was 16.5%, against 10.1% a year earlier. The 10-Q puts most of the increase down to applying a higher estimated annual tax rate in the third quarter and lower relative benefit from employment credits on higher forecast income. (The Cheesecake Factory Form 10-Q, Q3 fiscal 2026, Nov 2, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

The Cheesecake Factory states its fiscal 2026 outlook as key assumptions in the investor presentation filed with the release: consolidated sales of approximately $4.09 billion, a net income margin of about 5.75% at that sales level, cash capital expenditures of approximately $210 million and as many as 26 new restaurant openings. The release repeats the openings target: as many as five The Cheesecake Factory restaurants, eight North Italia, seven Flower Child and six FRC restaurants. (The Cheesecake Factory investor presentation, October 2026, Oct 27, 2026; The Cheesecake Factory Q3 fiscal 2026 release, Oct 27, 2026)

For the longer term the presentation gives average annual growth targets of 7% to 8% for topline revenue and 1% to 2% for comparable sales. (The Cheesecake Factory investor presentation, October 2026, Oct 27, 2026)

A consensus figure is the average of the models published by the analysts who cover The Cheesecake Factory, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones The Cheesecake Factory's own release and filings put weight on for Q3 fiscal 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning CAKE is on is CAKE a buy or a sell?, what analysts expect next is on the CAKE forecast, and what the company does is on the The Cheesecake Factory Incorporated (CAKE) stock page.

Every number on this page can be traced to a document The Cheesecake Factory published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.