WASHINGTON (AP) — WASHINGTON (AP) — Cava Group Inc. (CAVA) on Tuesday reported fourth-quarter profit of $78.6 million.
On a per-share basis, the Washington-based company said it had net income of 66 cents. Earnings, adjusted for non-recurring gains, came to 5 cents per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The Mediterranean restaurant chain posted revenue of $227.4 million in the period, which beat Street forecasts. Eight analysts surveyed by Zacks expected $225.5 million.
For the year, the company reported profit of $130.3 million, or $1.10 per share. Revenue was reported as $963.7 million.
Cava shares have decreased 12% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $99.30, a rise of 97% 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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