$CAVA Group Q3 '24 Earnings Highlights:

🔹 EPS: $0.15 (Est. $0.11) 🟢; UP from $0.06 YoY

🔹 Revenue: $243.8M (Est. $233.6M) 🟢; UP +39% YoY

🔹 Adj EBITDA: $34M (Est. $29M) 🟢; UP +69% YoY

Raised FY24 Outlook:

🔹 Adj EBITDA: $121M-$126M (Est. $117M) 🟢

🔹 Net New Restaurant Openings: 56-58 (Prev. 54-57)

🔹 Same Restaurant Sales Growth: 12.0%-13.0% (Prev. 8.5%-9.5%) 🟢

🔹 Restaurant-Level Profit Margin: 24.5%-25.0% (Prev. 24.2%-24.7%)

OTHER Q3 METRICS:

Restaurant Metrics

🔹 Same Restaurant Sales Growth: +18.1% YoY (Est. +12.4%) 🟢

🔹 Total Restaurants: 352; UP +21.4% YoY

🔹 Net New Restaurant Openings: 11 in Q3

🔹 Average Unit Volume (AUV): $2.8M

🔹 Guest Traffic Growth: +12.9% YoY

🔹 Digital Revenue Mix: 35.8%

Financial Details

🔹 Restaurant-Level Profit: $61.8M; UP +41.9% YoY

🔹 Restaurant-Level Profit Margin: 25.6% (Prev. 25.1% YoY)

🔹 Operating Cash Flow: $43.9M

🔹 Free Cash Flow: $23.4M

🔹 Cash & Cash Equivalents: $367.2M

Business Highlights

🔸 National launch of reimagined loyalty program completed

🔸 Rolled out new labor model ahead of schedule

🔸 Strong performance and growth from new restaurant openings

🔸 Consistent growth across all regions and channels

CEO Brett Schulman's Commentary

🔸 "Our Q3 results reflect the strength of our Mediterranean brand, as we establish Cava as the next major cultural cuisine category with a unique value proposition."