Financial Data and Key Metrics - Revenue increased by 39% YoY to $241.5 million in Q3 2024 [30] - Same-restaurant sales grew by 18.1%, driven by a 12.9% increase in guest traffic and a 5.2% increase from menu price and product mix [30][31] - Adjusted EBITDA rose by 69.2% to $33.5 million, and net income surged by 162.9% to $18 million [8][36][37] - Free cash flow for the quarter was $23.4 million, a significant increase from the previous year [8][39] - Restaurant-level profit increased by 41.9% to $61.8 million, representing 25.6% of revenue [31] Business Line Data and Key Metrics - The company opened 11 net new restaurants in Q3, bringing the total to 352, a 21.4% YoY increase [8][30] - The new restaurant class of 2024 is the strongest yet, outperforming expectations and demonstrating the portability of the brand [17] - The Reimagined Loyalty Program contributed to a 200 basis points increase in loyalty sales as a percentage of revenue [20][88] Market Data and Key Metrics - The company is expanding into new markets like Chicago and plans to enter South Florida in early 2025, with additional Midwest markets targeted for 2025 [17] - The new Project Soul design, which emphasizes human connection and Mediterranean hospitality, is being incorporated into many new restaurants [18] Company Strategy and Industry Competition - The company is leveraging its Mediterranean hospitality and culinary innovation to differentiate itself in the market [10][11] - Strategic initiatives include the nationwide rollout of the Reimagined Loyalty Program, new labor scheduling models, and culinary innovations like the Garlic Ranch pita chips [15][21][23] - The company is focusing on sustainable growth, exceptional guest experiences, and investments in team members and infrastructure [28] Management Commentary on Operating Environment and Future Outlook - Management highlighted the strength of the brand and the growing appeal of Mediterranean cuisine as a cultural category [10][11] - The company expects to open 56 to 58 net new restaurants in 2024, with same-restaurant sales growth of 12% to 13% and adjusted EBITDA between $121 million to $126 million [40] - For 2025, the company anticipates at least 17% net new restaurant unit growth and plans to maintain restaurant-level margins consistent with 2024 [43] Other Important Information - The company has zero debt outstanding, $367.2 million in cash, and access to a $75 million undrawn revolver [38] - The Connected Kitchen initiative, including generative AI video technology, is being tested in four restaurants to improve operational efficiency [24][25] Q&A Session Summary Question: Labor Scheduling Model and AUV Opportunities - The new labor scheduling model reallocates hours to peak periods and has shown early success in improving sales and guest experience in lower-volume restaurants [46][47][48] Question: Comp Drivers for 2025 - Key drivers for 2025 include loyalty program enhancements, menu innovations like the Garlic Ranch pita chips, and the continued impact of steak offerings [50][51][52] Question: Sequential Same-Store Sales Increase - The increase in same-store sales from Q2 to Q3 was consistent, with a two-year stack of around 33% in Q2 and 32% in Q3 [54][55] Question: Restaurant Margin Long-Term Outlook - The company aims to maintain restaurant-level margins around 25%, with potential for leverage as AUVs increase [57][58][59] Question: Brand Awareness Growth - Brand awareness has increased by 8 percentage points since the IPO, with strong growth across all demographics, particularly among younger cohorts [61][62] Question: 2025 Unit Growth and Market Strategy - The company expects at least 17% unit growth in 2025, driven by a strong pipeline and balanced growth in new and existing markets [65][66][67] Question: New Store Volumes and Market Entry Strategy - New restaurants are performing exceptionally well, with a balanced approach to growth in established, greenfield, and emerging markets [82][83][84] Question: Loyalty Program Impact - The loyalty program contributed to a 200 basis points increase in loyalty sales as a percentage of revenue, with potential benefits to frequency and overall sales [88] Closing Remarks - The company is well-positioned to capitalize on the growing opportunity in the Mediterranean cuisine category, driven by strong execution and a focus on human connections [91]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 6, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number 001-41721 CAVA Group, Inc. (Exact name of registrant as specified in its charter) Delaware 47-34266 ...

Exhibit 99.1 CAVA GROUP REPORTS THIRD QUARTER 2024 RESULTS ___________________________________________ YEAR OVER YEAR CAVA REVENUE GROWTH OF 39.0% INCLUDING CAVA SAME RESTAURANT SALES GROWTH OF 18.1% ___________________________________________ 11 NET NEW CAVA RESTAURANT OPENINGS DURING QUARTER ___________________________________________ THIRD QUARTER 2024 CAVA RESTAURANT-LEVEL PROFIT MARGIN OF 25.6% ___________________________________________ WASHINGTON, D.C. (November 12, 2024) - CAVA Group, Inc. (NYSE: CA ...

CAVA Group, Inc. (CAVA) is slated to release third-quarter 2024 results on Nov. 12, after the closing bell. In the last reported quarter, the company's earnings beat the Zacks Consensus Estimate by 30.58%. CAVA surpassed earnings estimates in the trailing four quarters. The average surprise in this period is 257.7%, as shown in the chart below. Image Source: Zacks Investment Research Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. CAVA's Q3 Estimate Revisions The Zacks Consensus Es ...

Cava Group (CAVA) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Individual inv ...

Cava Group (CAVA) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on November ...

The broader U.S. equity markets have witnessed significant volatility over the past few trading days. Solid earnings from blue-chip technology stocks led a stock market rally, while a seemingly tight race for the Presidential elections triggered a sharp decline. The downtrend was also fueled by concerns regarding a potential rate cut by the Federal Reserve later this week.The soft labor market conditions added to the cacophony with the economy adding just 12,000 jobs in October, far below the broader estima ...

The latest trading session saw Cava Group (CAVA) ending at $132.12, denoting a +0.45% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.28%. Elsewhere, the Dow lost 0.61%, while the tech-heavy Nasdaq lost 0.33%.Shares of the Mediterranean restaurant chain have appreciated by 3.89% over the course of the past month, outperforming the Retail-Wholesale sector's gain of 1.01% and the S&P 500's gain of 0.41%.The upcoming earnings release of Cava Group will be of great interes ...

Cava has a lot of potential to get bigger in the future, but are investors already pricing in a lot of that growth?One of the hottest food stocks to own this year has been that of Cava Group (CAVA -0.19%). The Mediterranean restaurant chain went public last year, and while it didn't get off to a great start, 2024 has been a much better year for the stock. Year to date, Cava's valuation has risen by more than 220%, and it's currently trading around its 52-week high. What's behind the stock's impressive rally ...

Cava Group (CAVA) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this Mediterranean restaurant chain have returned +8.9%, compared to the Zacks S&P 500 composite's +1% change. During this period, the Zacks Retail - Restaurants industry, which Cava falls in, has lost 2.2%. The key question now is: What could be the stock's future direction?Although media ...