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What's Going On With Cava Group Stock Wednesday?
CAVA Group Inc (NYSE:CAVA) shares are trading lower Wednesday on the heels of the company’s first-quarter financial results.
Q1 Revenue: $256.3 million, versus estimates of $245.935 million
Q1 EPS: 12 cents, versus estimates of 5 cents
Revenues were up 30.3% year-over-year in the first quarter. Net cash provided by operating activities totaled $38.4 million and the company generated $4.7 million of free cash flow during the quarter.
Cava reported the same restaurant sales growth of 2.3%. The company said it opened 14 new restaurants during the quarter, bringing total locations up to 323, up 22.3% year-over-year.
"CAVA's results in the first ...