8-K
filed February 27, 2024, 6:59 PM ET
ticker CAVA
CIK 0001639438
earnings
confidence high
sentiment positive
materiality 0.90
CAVA Group Q4/FY2023: Revenue up 59.8% to $717M, net income $13.3M vs loss $59M
CAVA GROUP, INC.
2023-FY EPS reported
$0.21
revenue$728,700,000
- Full year revenue $717.1M (+59.8% YoY); CAVA same-restaurant sales +17.9% (traffic +10.4%).
- Net income $13.3M vs net loss $59.0M in FY2022; Adjusted EBITDA $73.8M (+$61.2M YoY).
- Q4 revenue $175.5M (+52.5%); net income $2.0M vs loss $18.8M; restaurant-level profit margin 22.4% (+240 bps).
- Opened 72 net new CAVA restaurants in FY2023, total 309 (+30.4% YoY); AUV $2.6M.
- Digital revenue mix 36.0%; fiscal 2023 included 53rd week contributing ~$11M revenue.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
CAVA GROUP, INC. reported the fourth quarter ended December 31, 2023 results: revenue $175.5 million, net income $2.0 million.
- Period
- the fourth quarter ended December 31, 2023
- Revenue
- $175.5 million
- Net income
- $2.0 million
- Result
- reported results
Exact text from the filing
CAVA Revenue grew 52.5% to $175.5 million as compared to $115.0 million in the prior year quarter. • Net New CAVA Restaurant Openings of 19, bringing total CAVA Restaurants to 309, a 30.4% increase in total CAVA Restaurants year over year. • CAVA Same Restaurant Sales Growth of 11.4%, which excludes the 53rd week of fiscal 2023. • CAVA Restaurant-Level Profit of $39.3 million or growth of 70.7% over the prior year quarter, with CAVA Restaurant-Level Profit Margin of 22.4%, a 240 basis point increase over the prior year quarter. • CAVA Digital Revenue Mix was 35.9%. • CAVA Group Net Income of $2.0 million compared to net loss of $18.8 million in the prior year quarter.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
CAVA GROUP, INC. reported the fiscal year ended December 31, 2023 results: revenue $717.1 million, net income $13.3 million.
- Period
- the fiscal year ended December 31, 2023
- Revenue
- $717.1 million
- Net income
- $13.3 million
- Result
- reported results
Exact text from the filing
CAVA Revenue grew 59.8% to $717.1 million as compared to $448.6 million in the prior year. • Net New CAVA Restaurant Openings of 72 • CAVA Same Restaurant Sales Growth of 17.9%, which excludes the 53rd week of fiscal 2023. • CAVA AUV of $2.6 million, excluding the 53rd week of fiscal 2023, as compared to $2.4 million in the prior year. • CAVA Restaurant-Level Profit of $177.5 million or growth of 94.8% over the prior year, with CAVA Restaurant-Level Profit Margin of 24.8%, a 450 basis point increase over the prior year. • CAVA Digital Revenue Mix was 36.0%. 1 • CAVA Group Net Income of $13.3 million compared to net loss of $59.0 million in the prior year.
View on SEC.gov
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