Cava Q2 Sales Jump 9%, Beating Estimates Despite Food Safety Fears
CAVA sits 41% above its 52-week low of $43.41.
Summary
Cava delivered a strong Q2, with same-restaurant sales up 9% — well above the 7.63% consensus — and revenue of $365.4M, beating the $360.5M estimate. Adjusted EBITDA of $54.7M also topped expectations. The results show resilience despite a July cyclosporiasis outbreak that temporarily slowed traffic; CEO Brett Schulman noted sales have begun to rebound. Full-year guidance was reiterated, reflecting caution around food safety and macro uncertainty. This follows a strong Q1 and raised guidance in May, reinforcing the chain's momentum in a tough consumer environment.
Updates
· Dow Jones Newswires — Q2 profit was $23M, or 19 cents a share, beating estimates by a penny; more than half of same-restaurant sales growth came from traffic. Management said trends rebounded to mid single-digit growth last week after cyclospora concerns. Shares jumped 12% after hours.
At the time of this announcement, CAVA was trading at $61.06 on NYSE in the Trade & Services sector, with a market capitalization of approximately $7.1B. The 52-week trading range was $43.41 to $98.79. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.