A banner for the Mediterranean restaurant chain Cava is displayed outside of the New York Stock Exchange (NYSE) as the company goes public on June 15, 2023 in New York City.
Spencer Platt | Getty Images
Cava on Tuesday posted a profitable quarter for its first earnings report since its initial public offering in June.
Here’s what the company reported for the quarter ended July 9:
- Earnings per share: 21 cents
- Revenue: $172.9 million
The Mediterranean restaurant company reported second-quarter net income of $6.5 million, or 21 cents per share, swinging from a net loss of $8.2 million, or $6.23 per share, a year earlier.
Net sales soared 62% to $172.9 million, fueled by new restaurant openings. Wall Street analysts surveyed by Refinitiv were expecting the company to report revenue of $163 million.
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