NYSE$CAVA
CAVA Group Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
CAVA's revenue increased, driven by same restaurant sales growth and new restaurant openings.
CAVA Group reported strong third-quarter results with a 49.5% increase in revenue, driven by a 14.1% increase in same-restaurant sales growth and the opening of 11 new restaurants. Net income was $6.8 million, a significant improvement from the previous year's net loss of $11.9 million.
- CAVA Revenue grew by 49.5% to $173.8 million compared to the prior year quarter.
- Net New CAVA Restaurant Openings totaled 11, bringing the total CAVA Restaurants to 290.
- CAVA Same Restaurant Sales Growth was 14.1%.
- CAVA Group Net Income was $6.8 million, compared to a net loss of $11.9 million in the prior year quarter.
Headline financials
Revenue & EPS history
CAVA · Revenue · Quarterly
$176M
Revenue by segment
CAVA · $434M total across 1 segment · Q1 2026
- CAVA Restaurants$434M—100.0%
Forward guidance
CAVA Group raised its fiscal full-year 2023 guidance. Net New CAVA Restaurant Openings are expected to be 70 to 73. CAVA Same Restaurant Sales Growth is expected to be 15.0% to 16.0%. CAVA Restaurant-Level Profit Margin is expected to be at least 24.0%. Adjusted EBITDA is expected to be $70.0 to $73.0 million.
Tailwinds
- Net New CAVA Restaurant Openings: 70 to 73
- CAVA Same Restaurant Sales Growth: 15.0% to 16.0%
- CAVA Restaurant-Level Profit Margin: At least 24.0%
- Pre-opening costs: $14.5 to $15.5 million
- Adjusted EBITDA: $70.0 to $73.0 million
Headwinds
- Actual results may differ materially from CAVA Group's fiscal full-year 2023 guidance.
- Changes in guest perception of our brand
- Our ability to successfully market our restaurants and brand
- Impact of food safety, health department regulations, and food-borne illness concerns
- Our ability to maintain or increase prices
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 Q3 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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