🔹 Revenue: $331.8M (Est. $280.93M) 🟢; UP +28.2% YoY
🔹 Adj EPS: $0.22 (Est. $0.02) 🟢
FY25 Guidance:
🔹 Adjusted EBITDA: $152M–$159M (Raised from $150M–$157M) 🟢
🔹 Net New Restaurant Openings: 64–68 (Prev. 62–66)
🔹 Same Restaurant Sales Growth: 6.0%–8.0% (Reaffirmed)
🔹 Restaurant-Level Profit Margin: 24.8%–25.2% (Reaffirmed)
🔹 Pre-opening Costs: $14.5M–$15.5M (Prev. $14.0M–$15.0M)
Other Q1 Metrics:
🔹 Adj EBITDA: $44.9M (vs. $33.3M YoY); Margin: 13.5%
🔹 Free Cash Flow: $2.7M
🔹 Net Cash from Operating Activities: $38.6M
Operational Metrics:
🔹 CAVA Same Restaurant Sales Growth: +10.8%
• Traffic Growth: +7.5%
• Menu Price & Mix: +3.3%
🔹 Restaurant-Level Profit: $82.3M; UP +27.4% YoY
🔹 Restaurant-Level Profit Margin: 25.1% (vs. 25.2% YoY)
🔹 Digital Revenue Mix: 38.0%
🔹 Average Unit Volume (AUV): $2.9M (vs. $2.6M YoY)
Store Growth:
🔹 Net New Restaurant Openings: 15
🔹 Total Restaurants: 382 (UP +18.3% YoY)
🔸 Entered new market: Indiana — now in 26 states + DC
CEO Brett Schulman’s Commentary:
🔸 “In spite of economic uncertainty and challenging weather, CAVA’s first quarter results demonstrate the continued strength of our category-defining brand.”
🔸 “We’ve surpassed $1 billion in trailing-twelve-month revenue — a milestone that affirms Mediterranean as the next large-scale cultural cuisine category.”