WASHINGTON (AP) — WASHINGTON (AP) — Cava Group Inc. (CAVA) on Tuesday reported third-quarter net income of $18 million.
On a per-share basis, the Washington-based company said it had profit of 15 cents.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The Mediterranean restaurant chain posted revenue of $243.8 million in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $235.1 million.
Cava shares have more than tripled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $145.03, more than quadrupling in the last 12 months.
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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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