Cava Group, Inc. · NYSE:CAVA
Cava — Q1 2024 Earnings Presentation
11 slides from Cava's earnings presentation, May 28, 2024
Slide 1: Q1 2024 Earnings Supplemental Materials
Q1 2024 EARNINGS SUPPLEMENTAL MATERIALS May 28, 2024
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements This presentation contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that reflect our current views with respect to, among other things, our operations and financial performance. F
Slide 3: Our Mission
OUR MISSION To bring heart, health, and humanity to food. WE BELIEVE IN: Serving delicious food that helps more people eat well and live well. Taking care of the people and things that feed us: the earth, farmers, purveyors, and team members. Food as a unifier, for a more diverse yet inclusive world
Slide 4: Our 2024 Strategic Pillars
OUR 2024 STRATEGIC PILLARS Expand Our Mediterranean Way in Communities Across The Country Develop Personal Relationships with Guests, Even As We Scale Run Great Restaurants, Every Location, Every Shift Operate as a High-Performing Team
Slide 5: Q1 2024 Results
DRAFT Q1 2024 RESULTS CAVA Revenue $256.3M +30.3% versus Q1 2023 CAVA Same Restaurant Sales Growth (SRS%) 2.3% 2Y CAVA SRS% of 30.7% CAVA Restaurant Level Profit Margin 25.2% $64.6M CAVA Restaurant Level Profit Total Company Adjusted EBITDA* $33.3M 12.9% of Total Company Revenue Total Company Net In
Slide 6: Q1 2024 Business Highlights
Q1 2024 BUSINESS HIGHLIGHTS CAVA Revenue (in millions) CAVA Same Restaurant Sales (SRS%) Growth 2 $256 SRS% 2-Year SRS% • CAVA Revenue up 30.3% YoY $197 • 2.3% CAVA SRS% growth $171 $174 $175 50.0% 48.3% 50.0% • 30.7% 2Y SRS% 40.0% 40.0% 31.5% 30.7% 30.0% 28.4% 26.2% 30.0% • 17.2% 2Y traffic growth
Slide 7: A Sweet Return…
A SWEET RETURN… Bringing back our hearty and healthy fan favorite – White Sweet Potato! A few guest feelings… “They say if u love something let it go..if it comes back it’s yours… ” “Cava out here making dreams come true ” “SAY LESS ” LTO WHITE SWEET POTATO MAIN WHITE SWEET POTATO CUSTOM BOWL
Slide 8: We Love You As Much As You Love Us!
WE LOVE YOU AS MUCH AS YOU LOVE US! As brand awareness spreads, our guests remain at the center of everything we do! WELCOME TO OUR TABLE!
Slide 9: 2024 Fiscal Year Outlook
2024 FISCAL YEAR OUTLOOK PRIOR GUIDANCE REVISED GUIDANCE Net New Restaurant Openings: 48 - 52 Net New Restaurant Openings: 50 - 54 CAVA Same Restaurant Sales Growth: 3.0% - 5.0% CAVA Same Restaurant Sales Growth: 4.5% - 6.5% CAVA Restaurant Level Profit Margin: 22.7% - 23.3% CAVA Restaurant Level Pr
Slide 10: Adjusted EBITDA & Free Cash Flow Reconciliation
ADJUSTED EBITDA & FREE CASH FLOW RECONCILIATION Q1 FY Q4 Q3 Q2 Q1 Adjusted EBITDA Reconciliation, $000s 2024 2023 2023 2023 2023 2023 Net income (loss) $13,993 $13,280 $2,049 $6,833 $ 6,539 $ (2,141) Interest (income) expense, net (4,914) (8,852) (4,222) (3,956) (699) 25 Provision for income taxes 2
Slide 11: Thank You!
THANK YOU!