earnings
confidence high
sentiment positive
materiality 0.80
CAVA Q2 revenue up 35% to $231M; same-store sales +14.4%, net income triples
CAVA GROUP, INC.
2024-Q2 EPS reported
$0.29
revenue$492,501,000
- Revenue grew 35.2% YoY to $231.4M; same-restaurant sales +14.4% (traffic +9.5%, price/mix +4.9%).
- Net income more than tripled to $19.7M from $6.5M in prior year quarter.
- Adjusted EBITDA rose 59% to $34.3M; restaurant-level profit margin expanded to 26.5% from 26.1%.
- Opened 18 net new CAVA restaurants; total units 341, up 22.2% YoY; AUV of $2.7M.
- New grilled steak main outperforming expectations, launched June 3.