Cava Group Stock Drops After Q4 Earnings Miss: Details

CAVA Group, Inc. CAVA reported its fourth-quarter results after Tuesday's closing bell. Here's a look at the key figures from the quarter. 

The Details: Cava Group reported adjusted earnings of five cents per share, missing the six cent analyst consensus estimate. Quarterly revenue came in at $225.1 million which beat the $223.63 million consensus estimate.

The company also reported for the fourth-quarter:

• Net new CAVA Restaurant Openings of 15, bringing total CAVA Restaurants to 367, an 18.8% increase in total CAVA Restaurants year over year.
• CAVA Same Restaurant Sales Growth of 21.2%
• CAVA Restaurant-Level Profit of $50.4 million or growth of 28.2% over the prior year quarter, with CAVA Restaurant-Level Profit Margin of 22.4%, an increase of 50 basis points excluding the 53rd week of fiscal 2023.
• CAVA Digital Revenue Mix was 36.8%.

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“2024 was another year of extraordinary growth and success for CAVA as we established Mediterranean as the next major cultural cuisine category and delivered our unique value proposition, that is clearly resonating with modern consumers. CAVA Same Restaurant Sales grew 13.4% in 2024, including traffic growth of nearly 9%. We opened 58 net new restaurants and, driven by our powerful unit economic engine, generated average unit volume of $2.9 million,” said Brett Schulman, CAVA Group CEO.

CAVA Price Action: According to data from Benzinga Pro, Cava Group shares are down 6.50% after hours at $92.85 Tuesday.  

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