Cava Group reports Q4 EPS 2c, consensus 0c

Reports Q4 revenue $175.5M, consensus $174.3M. “2023 was a landmark year for CAVA, one that demonstrated our significant whitespace opportunity and the strength of our operating model and Team Members as we define the next big cultural cuisine category. Following a successful IPO, we delivered three consecutive quarters of positive net income, driven by full-year revenue growth of nearly 60%. CAVA Same Restaurant Sales grew nearly 18%, including traffic growth of more than 10%, and we opened 72 net new restaurants, increasing our footprint by 30%. With our powerful unit economic engine and investments in an efficient, scalable operation, we are well positioned to deliver on our extraordinary potential,” said Brett Schulman, Co-Founder and CEO.