WASHINGTON (AP) — WASHINGTON (AP) — Cava Group Inc. (CAVA) on Tuesday reported first-quarter net income of $14 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Washington-based company said it had profit of 12 cents.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.
The Mediterranean restaurant chain posted revenue of $259 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $246.7 million.
Cava shares have risen 92% since the beginning of the year.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAVA at https://www.zacks.com/ap/CAVA
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