CAVA Group Expects 2024 Adjusted EBITDA Of $86M-$92M; Sees Same Restaurant Sales Growth Of 3%-5% And Restaurant-Level Profit Margin 22.7%-23.3%
Portfolio Pulse from Benzinga Newsdesk
CAVA Group projects a positive fiscal 2024 outlook with adjusted EBITDA expected to be between $86M-$92M. The company anticipates 3%-5% same restaurant sales growth, 22.7%-23.3% restaurant-level profit margin, and plans to open 48 to 52 new restaurants. Pre-opening costs are estimated to be $11.5M-$12.5M.
February 27, 2024 | 6:33 am
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CAVA Group forecasts a strong fiscal 2024 with significant growth in adjusted EBITDA, same restaurant sales, and an aggressive expansion plan.
CAVA Group's positive fiscal 2024 outlook, with expected growth in adjusted EBITDA, same restaurant sales, and an aggressive expansion strategy, indicates a strong performance and operational efficiency. This is likely to positively impact investor sentiment and the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100