NYSE$CAVA
CAVA Group Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported record revenue and profitability, driven by same restaurant sales growth and net new restaurant openings.
CAVA Group reported a strong second quarter with significant year-over-year revenue growth of 62.4%, driven by an 18.2% increase in same restaurant sales growth. The company opened 16 net new restaurants and achieved a net income of $6.5 million and Adjusted EBITDA of $21.6 million.
- CAVA Revenue grew 62.4% to $171.1 million compared to the prior year quarter.
- Net New CAVA Restaurant Openings totaled 16, bringing the total CAVA Restaurants to 279, a 43.1% increase year over year.
- CAVA Same Restaurant Sales Growth was 18.2%.
- CAVA Group Net Income was $6.5 million compared to a net loss in the prior year quarter.
Headline financials
Revenue & EPS history
CAVA · Revenue · Quarterly
$173M
Revenue by segment
CAVA · $171M total across 1 segment · Q2 2023
- CAVA Restaurants$171M+62.4%100.0%
Forward guidance
For fiscal full-year 2023, CAVA Group anticipates net new restaurant openings between 65 and 70, same restaurant sales growth between 13.0% and 15.0%, restaurant-level profit margin of at least 23.0%, pre-opening costs between $13.5 and $14.5 million, and Adjusted EBITDA between $62.0 and $67.0 million.
Tailwinds
- Net New CAVA Restaurant Openings between 65 and 70
- CAVA Same Restaurant Sales Growth between 13.0% and 15.0%
- CAVA Restaurant-Level Profit Margin of at least 23.0%
- Pre-opening costs between $13.5 and $14.5 million
- Adjusted EBITDA between $62.0 and $67.0 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 16 quarterly earnings reports · overlaid with Q2 2023
+2.0%
Avg return
Earnings day
-1.0%
Avg return
5 days after
-0.4%
Avg return
30 days after
41%
7 / 17 earnings
Positive
+26.4%
Q4 2025
Best reaction
-16.7%
Q2 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.9% | +2.9% | +13.9% | |
| Q4 2025 | +26.4% | +15.8% | +11.2% | |
| Q3 2025 | -2.3% | -3.9% | +3.2% | |
| Q2 2025 | -16.7% | -17.4% | -24.7% | |
| Q1 2025 | -2.6% | -15.5% | -24.7% | |
| Q4 2024 | -0.3% | -11.7% | -13.5% | |
| Q3 2024 | -0.3% | -4.3% | -15.2% | |
| Q2 2024 | +18.6% | +14.8% | +25.2% | |
| Q1 2023 | +13.0% | +6.8% | +12.6% | |
| Q1 2024 | +6.3% | +11.6% | +10.4% | |
| Q4 2021 | +12.7% | +15.4% | +38.7% | |
| Q4 2023 | +11.1% | +14.3% | +35.6% | |
| Q3 2022 | -6.4% | -6.9% | -4.3% | |
| Q3 2023 | -9.0% | -9.1% | -2.5% | |
| Q4 2022 | -8.7% | -10.1% | -23.6% | |
| Q2 2022 | -8.7% | -10.1% | -23.6% | |
| Q2 2023 | -1.9% | -9.9% | -24.6% | |
| Q1 2022 | — | — | — |
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