CAVA Group Q1 2024 revenue up 30.3% to $256.3M; first-ever positive free cash flow

CAVA GROUP, INC.

2024-Q1 EPS reported $0.12 revenue$259,006,000

Net income of $14.0M vs. net loss of $2.1M in prior-year quarter; adjusted EBITDA of $33.3M, up 99%.
CAVA same-restaurant sales grew 2.3% (4.3% adjusted for calendar shift); digital mix 37%.
Restaurant-level profit margin 25.2% vs. 25.4% last year; 14 net new restaurants opened, total 323.
First quarter of positive free cash flow at $4.7M; operating cash flow of $38.4M.

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