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Mediterranean fast-casual restaurant chain CAVA Group Inc (NYSE:CAVA) reported financial results for the first quarter after the market close on Tuesday. Here’s a look at the key details from the print.
- Cava Group shares are under pressure. What’s driving CAVA stock lower?
CAVA Q1 Earnings Highlights
Cava posted first-quarter revenue of $438.27 million, beating the consensus estimate of $411.25 million, according to Benzinga Pro. The company reported adjusted earnings of 20 cents per share, beating analyst estimates of 17 cents per share.
Total revenue was up 32.2% year-over-year on same restaurant sales growth of 9.7%, primarily driven by guest traffic growth of 6.8%.
The company opened 20 new restaurants during the first quarter, bringing …
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