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Cava (CAVA) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended September 2024, Cava Group (CAVA - Free Report) reported revenue of $243.82 million, up 38.9% over the same period last year. EPS came in at $0.15, compared to $0.06 in the year-ago quarter.
The reported revenue represents a surprise of +3.70% over the Zacks Consensus Estimate of $235.13 million. With the consensus EPS estimate being $0.11, the EPS surprise was +36.36%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Cava performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
CAVA Same Restaurant Sales Growth: 18.1% versus the eight-analyst average estimate of 12.6%.
End of period CAVA Restaurants: 352 versus 354 estimated by seven analysts on average.
New CAVA restaurant openings, including converted Zoes Kitchen locations: 11 versus the four-analyst average estimate of 13.
Occupancy as a percentage of CAVA Revenue: 6.8% versus the two-analyst average estimate of 7.1%.
Revenue- CAVA Restaurant: $241.50 million versus $232.96 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +39% change.
Revenue- Other: $2.32 million compared to the $2.16 million average estimate based on eight analysts. The reported number represents a change of +29.2% year over year.
Restaurant-Level profit- Other: $0.83 million versus the three-analyst average estimate of $0.66 million.
Restaurant-Level profit- CAVA: $61.82 million versus $61.05 million estimated by three analysts on average.
Shares of Cava have returned +9.7% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Cava (CAVA) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended September 2024, Cava Group (CAVA - Free Report) reported revenue of $243.82 million, up 38.9% over the same period last year. EPS came in at $0.15, compared to $0.06 in the year-ago quarter.
The reported revenue represents a surprise of +3.70% over the Zacks Consensus Estimate of $235.13 million. With the consensus EPS estimate being $0.11, the EPS surprise was +36.36%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Cava performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- CAVA Same Restaurant Sales Growth: 18.1% versus the eight-analyst average estimate of 12.6%.
- End of period CAVA Restaurants: 352 versus 354 estimated by seven analysts on average.
- New CAVA restaurant openings, including converted Zoes Kitchen locations: 11 versus the four-analyst average estimate of 13.
- Occupancy as a percentage of CAVA Revenue: 6.8% versus the two-analyst average estimate of 7.1%.
- Revenue- CAVA Restaurant: $241.50 million versus $232.96 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +39% change.
- Revenue- Other: $2.32 million compared to the $2.16 million average estimate based on eight analysts. The reported number represents a change of +29.2% year over year.
- Restaurant-Level profit- Other: $0.83 million versus the three-analyst average estimate of $0.66 million.
- Restaurant-Level profit- CAVA: $61.82 million versus $61.05 million estimated by three analysts on average.
View all Key Company Metrics for Cava here>>>Shares of Cava have returned +9.7% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.