Cava Group reports Q2 EPS 21c, consensus (2c)

Reports Q2 revenue $172.9M, consensus $163.2M. “Our results in the second quarter demonstrated the power of our restaurant operating model and the growing appeal of the Mediterranean category, which we are defining. Revenue and profitability reached record levels, with 18.2% CAVA Same Restaurant Sales Growth, Net Income of $6.5 million and Adjusted EBITDA of $21.6 million. Our dominant leadership position and proven portability create meaningful opportunity for growth in new and existing markets, as evidenced by our 16 Net New CAVA Restaurant Openings during the quarter” said Brett Schulman, Co-Founder and CEO. “Our performance is representative of the momentum we’ve gained and continued focus on execution as we grow.”