Cheesecake Factory (NASDAQ:CAKE) on Wednesday posted better-than-expected earnings for the first quarter.

The company reported quarterly earnings of $1.05 per share which beat the analyst consensus estimate of $1.01 per share. The company reported quarterly sales of $978.833 million which beat the analyst consensus estimate of $964.891 million.

“We delivered strong first quarter results, with revenue, margins and earnings finishing above our expectations,” said David Overton, Chairman and Chief Executive Officer. “Our top-line performance was led by comparable sales growth at The Cheesecake Factory restaurants, which outperformed the broader casual dining industry in the quarter. These results, delivered in a competitive environment and despite significant weather-related impacts, reflect the resilient demand for the distinct, high-quality dining experiences we provide our guests and strong affinity for our namesake concept. At the same time, execution within our restaurants was excellent, with operators driving year-over-year improvements in labor productivity and food efficiency, supporting solid flow-through to profitability.”

Cheesecake Factory raised its FY2026 sales guidance from $3.900 billion to $3.910 billion.

Cheesecake Factory shares rose 0.6% to trade at $63.04 on Thursday.

These analysts made changes to their price targets on Cheesecake Factory following earnings announcement.

  • Stephens & Co. analyst Jim Salera maintained the stock with an Equal-Weight rating and raised the price target from $61 to $65.
  • Wells Fargo analyst Zachary Fadem maintained the stock with an Equal-Weight rating and raised the price target from $60 to $65.
  • Barclays analyst Jeffrey Bernstein maintained the stock with an Underweight rating and raised the price target from $58 to $60.

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