Cava Group Stock Climbs On Q2 Results: EPS Beat, Sales Beat, Raises Guidance
Portfolio Pulse from Erica Kollmann
Cava Group, Inc. (NYSE:CAVA) reported strong Q2 earnings, beating EPS and sales estimates. The company saw significant growth in same-restaurant sales and opened 18 new locations. Cava raised its fiscal year 2024 guidance, leading to a 5.98% increase in its stock price after-hours.
August 22, 2024 | 8:44 pm
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Cava Group reported better-than-expected Q2 earnings and sales, with a notable increase in same-restaurant sales and new restaurant openings. The company raised its fiscal year 2024 guidance, resulting in a positive stock price reaction.
Cava Group's Q2 earnings exceeded expectations, with strong sales growth and new restaurant openings. The raised guidance for FY 2024 indicates confidence in future performance, leading to a positive market reaction and a 5.98% increase in stock price after-hours.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100