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CAVA Group Analysts Boost Their Forecasts After Upbeat Earnings
CAVA Group, Inc. (NYSE:CAVA) reported better-than-expected first-quarter earnings and increased FY24 guidance on Tuesday.
Cava's first-quarter revenue increased 30.3% year-over-year to $256.3 million, which beat the consensus estimate of $245.935 million, according to Benzinga Pro. The Mediterranean fast-casual restaurant chain company reported quarterly earnings of 12 cents per share, which beat analyst estimates of 5 cents per share.
"CAVA's results in the first quarter demonstrate the strength of our category-defining brand, our clear leadership position in Mediterranean and our compelling differentiated value ...