Key Takeaways Cava Group raised its 2024 same-store sales estimate to 9% from 5.5% at the midpoint. Same-store sales grew 14.4% year-over-year and Cava added a net 18 locations in the second quarter. CEO Brett Schulman said the company's new grilled steak offering was performing better than expected. Shares soared 17% in intraday trading Friday and are up more than 175% in 2024. Cava Group (CAVA) shares surged in intraday trading Friday, a day after the company raised its 2024 guidance and said its new gril ...

The Mediterranean fast-casual chain posted blowout second-quarter results. Shares of Cava Group (CAVA 17.29%) were soaring today after the fast-casual restaurant chain delivered another strong earnings report with impressive growth on the top and bottom lines. As of 9:51 a.m. ET, Cava stock was up 14.1% on the news. Cava shines again Cava said that comparable sales surged 14.4% in the period, driven by 9.5% traffic growth. That drove revenue up 35.2% to $231.4 million, which was ahead of estimates of $219.5 ...

NEW YORK, NEW YORK - JUNE 15: A banner for the Mediterranean restaurant chain Cava is displayed ... [+] outside of the New York Stock Exchange (NYSE) as the company goes public on June 15, 2023 in New York City. Cava priced its IPO at $22 per share, valuing the company at $2.5 billion. (Photo by Spencer Platt/Getty Images) Getty Images Here are two rules of business: When a company exceeds quarterly growth targets and raises guidance, its stock price usually goes up. To achieve such growth, companies must i ...

CAVA Group, Inc. CAVA reported better-than-expected second-quarter financial results on Thursday. Cava Group reported quarterly earnings of 17 cents per share which beat the analyst consensus estimate of 12 cents by 41.67%. Quarterly sales clocked in at $233.495 million, beating the analyst consensus estimate by 7% and representing a 35.05% increase from the same period last year. "Our results in the second quarter continued to demonstrate the strength of our category-defining brand and our unique and compe ...

Tim Platt/DigitalVision via Getty Images Investment Thesis CAVA Group (NYSE:CAVA) achieves the impossible. CAVA impresses investors who already had incredibly high expectations, with a beat on the top and bottom and raising its guidance further. CAVA is a contention stock. Many investors, myself included, have questioned its very high valuation. Indeed, I believe that CAVA is priced at approximately 150x forward free cash flow. And yet, the stock continues to move higher. For my part, I can't make the math ...

LauriPatterson/E+ via Getty Images Investment Thesis CAVA Group (NYSE:CAVA) is quickly becoming one of the most followed stocks in the restaurant category, with results that are enviable by CAVA's peers in the fastcasual restaurant cohort. That envy among CAVA's peers might have reached new levels as the Washington, D.C.-headquartered Mediterranean chain of Mediterranean fast casual restaurants across the U.S. reported their Q2 results that blew past the tape. At the same time, CAVA's management raised thei ...

Cava Group (NYSE:CAVA) just reported results for the second quarter of 2024. Cava Group reported earnings per share of 17 cents. This was above the analyst estimate for EPS of 12 cents. The company reported revenue of $233.50 million. This was 6.83% better than the analyst estimate for revenue of $218.57 million. InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per shar ...

CAVA Group, Inc. (NYSE:CAVA) Q2 2024 Earnings Conference Call August 22, 2024 5:00 PM ET Company Participants Matt Milanovich - Investor Relations Brett Schulman - Co-Founder and Chief Executive Officer Tricia Tolivar - Chief Financial Officer Conference Call Participants David Tarantino - Baird Brian Harbour - Morgan Stanley Andrew Charles - TD Cowen Chris O'Cull - Stifel Andy Barish - Jefferies Sharon Zackfia - William Blair Brian Mullan - Piper Sandler Jon Tower - Citi Rahul Krotthapalli - JPMorgan Jeffr ...

For the quarter ended June 2024, Cava Group (CAVA) reported revenue of $233.5 million, up 35.1% over the same period last year. EPS came in at $0.17, compared to $0.21 in the year-ago quarter. The reported revenue represents a surprise of +5.17% over the Zacks Consensus Estimate of $222.03 million. With the consensus EPS estimate being $0.13, the EPS surprise was +30.77%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine th ...

Thursday, August 22nd, 2024 Market indexes started the trading session in the green this morning, but steadily ran out of steam as the day wore on. Once afternoon lows had been established in the Dow and S&P 500, they leveled off through the close, while the Nasdaq and the small-cap Russell 2000 dwindled further. We've gotten back roughly to levels where we began the week. The Dow fell -177 points, -0.43% on the day, while the Nasdaq dropped -299 points, -1.67% — the lows for the session across major indexe ...