$CAVA (no position) -21% AH after missing 2Q estimates and cutting its FY same store sales forecast. The company blamed the miss on “ongoing uncertainty among consumers”, echoing what both
$CMG and
$SG said after posting disappointing results.
2Q:
- SSS 2.1% vs 6.4% est
- Revs $280.6M vs $285.6M est
- Adj EBITDA $42.1M vs $40M est
FY’25 guide:
- SSS 4-6%, saw 6-8%, est 7.2%
- New store openings 68-70 saw 64-68
- Adj EBITDA $152-$159M vs $158.1M (no change)
At 2025 P/E of 147x, the miss will get amplified by both the likely decline in FY’25 estimates and a downward re-rating of the multiple.