CAVA Group Inc reports results for the quarter ended June 30 - Earnings Summary

• CAVA Group Inc CAVA.N reported quarterly adjusted earnings of 16 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 17 cents. The mean expectation of seventeen analysts for the quarter was for earnings of 13 cents per share. Wall Street expected results to range from 11 cents to 16 cents per share.

• Revenue rose 20.2% to $280.62 million from a year ago; analysts expected $285.64 million.

• CAVA Group Inc's reported EPS for the quarter was 16 cents​.

• The company reported quarterly net income of $18.37 million.

• CAVA Group Inc shares had fallen by 2.3% this quarter and lost 27.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 18.3% in the last three months.​

• In the last 30 days, three analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy," 6 "hold" and no "sell" or "strong sell." The average consensus recommendation for the restaurants & bars peer group is also "buy"

• Wall Street's median 12-month price target for CAVA Group Inc is $111.00, about 25.9% above its last closing price of $82.30

This summary was machine generated from LSEG data August 12 at 09:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)