$CAVA · CAVA GROUP, INC.
CAVA reported fiscal Q3 2026 (ended October 4, 2026) results: CAVA revenue grew 22.1% to $353.7M, same-restaurant sales rose 3.1%, and 24 net new restaurants brought the total to 500. Net income declined to $13.2M from $14.7M, while Adjusted EBITDA rose 5.7% to $42.3M. Restaurant-level profit margin fell 120 bps to 23.4%.
- CAVA revenue grew 22.1% to $353.7M vs $289.8M a year ago.
- Same-restaurant sales rose 3.1%, with 3.0% from price/mix and slightly positive traffic.
- 24 net new openings brought total restaurants to 500, up 20.5% year over year.
- Net income fell to $13.2M from $14.7M; Adjusted EBITDA rose 5.7% to $42.3M.
- Restaurant-level profit margin declined 120 bps to 23.4% on labor and delivery mix.
Extended-hours trading shows CAVA at $59.61, down 3.25% from the $61.61 regular close, suggesting investors are weighing margin compression against strong top-line growth.
CAVA's strong unit growth and raised same-restaurant-sales guidance contrast with declining net income and margin compression, a key tension for a high-multiple growth stock.
CAVA's 22.1% revenue growth and 3.1% same-restaurant sales outperform most fast-casual peers despite "broader industry pressures," though margin compression from labor and third-party delivery mirrors sector-wide cost trends.
Same-restaurant sales were cut ~150 bps by Cyclospora and fresh-produce concerns; restaurant-level margin fell on labor investments and higher third-party delivery mix.