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CAVA Group, Inc. (CAVA)
NYSE:CAVA
Earnings Data
Report Date
Feb 25, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.07Last Year’s EPS
0.02Same Quarter Last Year
Moderate Buy
Based on 10 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 25, 2025
|% Change Since: -0.34%
|Next Earnings Date:Jun 03, 2025
Earnings Call Sentiment|Positive
CAVA delivered exceptional financial results in 2024, with significant revenue and same-store sales growth, successful market expansions, and strong financial positioning. Despite some cost pressures and moderation in anticipated growth for 2025, the company's strategic initiatives, technological advancements, and culinary innovations position it well for continued success.Company Guidance
During the CAVA Fourth Quarter 2024 Earnings Conference Call, the company provided detailed guidance and insights into its financial performance. CAVA reported a 36.8% increase in revenue for the fourth quarter, excluding the 53rd week in 2023, and a 21.2% growth in same-restaurant sales, driven by a 15.6% increase in traffic. The company ended the year with 367 restaurants, marking a net increase of 15 new openings and an 18.8% year-over-year growth. Adjusted EBITDA reached $25.1 million, a 60% increase from the prior year, while net income was reported at $78.6 million and adjusted net income at $6.5 million, reflecting a 216% rise compared to the fourth quarter of 2023. For the full year, CAVA achieved a 35% revenue increase, opened 58 net new restaurants, and delivered an adjusted EBITDA of $126.2 million, a 71% increase over the previous year. Looking ahead, CAVA plans to open 62 to 66 new restaurants in 2025, with a same-restaurant sales growth target of 6% to 8%, and aims to expand its presence in markets such as South Florida, Detroit, and Indianapolis. The company also highlighted its new loyalty program, which has led to a 230 basis point increase in loyalty sales, and its ongoing investments in technology, including a Kitchen Display System (KDS) set to expand to 250 restaurants by the end of 2025.Record-Breaking Revenue and Growth
CAVA reported a 36.8% increase in revenue for Q4 2024 and a 35% increase for the full year, excluding the 53rd week in 2023. This demonstrates strong growth in the Mediterranean cuisine category.
Strong Same-Store Sales and Traffic Growth
CAVA achieved a 21.2% increase in same-restaurant sales for Q4 2024, with a notable 15.6% increase in traffic. Full-year same-restaurant sales growth was 13.4% with an 8.7% traffic increase.
Expansion and New Market Success
CAVA opened 58 net new restaurants in 2024, expanding to 25 states and the District of Columbia, including successful entries into Chicago, Detroit, and Indianapolis.
Improvement in Adjusted EBITDA
Adjusted EBITDA increased by 60% to $25.1 million in Q4 2024 and 71% to $126.2 million for the full year, reflecting strong operational performance.
Innovative Culinary Developments
CAVA introduced new menu items such as grilled steak and garlic ranch pita chips, which have been well-received, driving increased customer engagement and sales.
Technological Advancements
CAVA's Connected Kitchen initiative progressed with AI video technology and a new kitchen display system, enhancing order accuracy and productivity.
Strong Financial Position
CAVA ended the year with $366.1 million in cash, zero debt, and access to a $75 million undrawn revolver, positioning the company well for future investments.
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CAVA Earnings History
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 |
|---|---|---|---|
| Feb 25, 2025 | $99.30 | $98.96 | -0.34% |
| 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% |
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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FAQ
When does CAVA Group, Inc. (CAVA) report earnings?
CAVA Group, Inc. (CAVA) is schdueled to report earning on Feb 25, 2025, TBA Not Confirmed.
What is CAVA Group, Inc. (CAVA) earnings time?
CAVA Group, Inc. (CAVA) earnings time is at Feb 25, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CAVA EPS forecast?
CAVA EPS forecast for the fiscal quarter 2024 (Q4) is 0.07.
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