CAVA reported strong revenue and net income growth, alongside significant expansions in restaurant openings and same-store sales. The company has successfully launched new products and expanded its loyalty program, contributing to positive financial performance. However, it faced challenges with increased costs in food, beverage, packaging, and labor. Despite these challenges, the overall sentiment is positive due to the strong growth metrics and strategic expansions.

Company Guidance

During the CAVA Third Quarter 2024 Earnings Call, the company provided robust guidance and key financial metrics, underscoring its strong performance and future growth trajectory. CAVA reported a 39% year-over-year increase in revenue, reaching $241.5 million, and an 18.1% rise in same-restaurant sales, supported by a 12.9% increase in guest traffic. The company opened 11 net new restaurants, bringing the total to 352, marking a 21.4% increase from the previous year. Adjusted EBITDA surged by 69% to $33.5 million, while net income soared by 163% to $18 million compared to the third quarter of 2023. The company also achieved $23.4 million in free cash flow. Looking ahead, CAVA anticipates opening 56 to 58 new restaurants in 2024, with same-restaurant sales expected to grow by 12% to 13%, and projects an adjusted EBITDA range of $121 million to $126 million for the full year. The call highlighted CAVA's strategic focus on culinary innovation, loyalty program enhancements, and operational initiatives as key drivers of continued growth and consumer engagement.

Strong Revenue Growth

CAVA reported a 39% increase in revenue year-over-year, reaching $241.5 million for Q3 2024.

Significant Net Income Increase

The company achieved a net income of $18 million, a 163% increase over the third quarter of 2023.

Expansion and New Restaurant Openings

CAVA opened 11 net new restaurants in Q3, ending the quarter with 352 restaurants, marking a 21.4% increase year-over-year.

Same-Restaurant Sales Growth

CAVA reported same-restaurant sales growth of 18.1%, driven by a 12.9% increase in guest traffic.

Adjusted EBITDA Growth

Adjusted EBITDA increased by 69%, reaching $33.5 million in Q3 2024.

New Flavor Launch Success

The new Garlic Ranch pita chips drove significant social media engagement and incremental attachment, with over 12 million impressions.

Loyalty Program Expansion

The newly launched loyalty program increased loyalty sales by over 200 basis points.

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CAVA Group, Inc. (CAVA) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CAVA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 04, 2025	2024 (Q4)	0.06 / -	0.02	―	―	―
Nov 12, 2024	2024 (Q3)	0.11 / 0.15	0.06	150.00% (+0.09)
Aug 22, 2024	2024 (Q2)	0.13 / 0.17	0.21	-19.05% (-0.04)
May 28, 2024	2024 (Q1)	0.04 / 0.12	-0.021	671.43% (+0.14)
Feb 27, 2024	2023 (Q4)	<0.01 / 0.02	-0.166	112.05% (+0.19)
Nov 07, 2023	2023 (Q3)	>-0.01 / 0.06	-0.105	157.14% (+0.16)
Aug 15, 2023	2023 (Q2)	-0.02 / 0.21	-0.072	391.67% (+0.28)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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CAVA Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 12, 2024	$145.03	$147.30	+1.57%
Aug 22, 2024	$101.98	$122.00	+19.63%
May 28, 2024	$82.40	$88.16	+6.99%
Feb 27, 2024	$50.50	$56.66	+12.20%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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