Cheesecake Factory Inc. shares are down 5.9% in Thursday trading after the restaurant chain reported third-quarter earnings and revenue that missed expectations, which the company attributes to hurricanes in the U.S. and Puerto Rico. Net income for the quarter totaled $26.4 million, or 56 cents per share, down from $34.6 million, or 70 cents per share, for the same period last year. The FactSet consensus was for 60 cents per share. Revenue was $555.4 million, down from $560.0 million last year and below the $566.0 million FactSet estimate. Same-store sales also missed FactSet consensus, falling 2.3% against expectations for a 2.0% decline. The company said Hurricanes Harvey, Irma and Maria pushed same-store sales down 0.8%. Cheesecake Factory shares are down 29.3% for the year so far while the S&P 500 index is up 15% for the period.
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