Jun 2026 (Q2 FY26) — Aug 11, 2026
CAVA Group Q2 FY26 — Strong Sales and Unit Growth Despite Industry Headwinds
Read the full callCAVA Group (CAVA) earnings
- Jul 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
CAVA Group earnings: last reported Tue, 11 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 368 | +31.3% YoY | Quarterly, as filed | Quarter to Jul 2026 | Revenue from operations as filed. |
| Operating margin | 7.3 | +0.3 pts YoY | Operating profit / revenue | Quarter to Jul 2026 | For the quarter; a change is in percentage points. |
| Net profit | 23.0 | +25.3% YoY | Quarterly, as filed | Quarter to Jul 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
20 of 28 judged targets kept · 23 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Assistant General Manager (AGM) role rollout | Staff roughly 2/3 of restaurants with the AGM position | Jun 2025 | Our AGMs, the roles are now rolled out to 70% of our fleet, which was the intended amount of restaurants on the initial launch. | Achieved |
| Menu price increases | No additional price increases | Dec 2025 | This past January, we took an approximate 1.4% price increase while holding base bowl and pita pricing flat. | Missed |
| Same-restaurant sales growth | 3% to 5% | Dec 2025 | same-restaurant sales of 4.5% to 6.5%. | Revised Up |
8 of CAVA GROUP, INC.'s 51 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 48 more targets are in the full ledger.
Claimed
- CAVA revenue increased by 31.3% year-over-year to $365.4 million.
- Same restaurant sales grew 9%, driven by a 5.3% increase in traffic.
- Opened 17 net new restaurants, bringing the total to 476, a 19.6% year-over-year increase.
- Adjusted EBITDA rose 30% to $54.7 million compared to Q2 2025.
- New restaurant productivity was once again above 100%, demonstrating strong market appeal.
Qualified
- Near-term sales were impacted by broad consumer concerns around food safety issues, specifically the Cyclospora outbreak, though trends have since recovered to mid-single digits.
- Food, beverage, and packaging costs increased by 50 basis points to 30% of revenue, primarily due to Salmon launch input costs and anticipated fuel surcharges/pre-marinated chicken rollout.
- Labor and related costs increased by 30 basis points to 25.3% of revenue, driven by a 3% wage investment.
- Other operating expenses increased by 40 basis points to 12.8% of revenue, primarily due to a higher mix of third-party delivery.
Price
$57.9 +1.14% · +$0.65
Performance −7.9% 1Y
1Y: $62.86 on 17 Oct 2025 → $57.9. High $97.39 (20 Apr 2026), low $43.59 (20 Nov 2025).
- Previous close
- $57.25
- 52-week range
- $43.59 – $97.39
- One year
- −7.05%
Overview
- Symbol
- CAVA
- Sector
- Consumer Discretionary
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
20 of 28 judged targets kept · 23 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Assistant General Manager (AGM) role rollout | Staff roughly 2/3 of restaurants with the AGM position | Jun 2025 | Our AGMs, the roles are now rolled out to 70% of our fleet, which was the intended amount of restaurants on the initial launch. | Achieved |
| Menu price increases | No additional price increases | Dec 2025 | This past January, we took an approximate 1.4% price increase while holding base bowl and pita pricing flat. | Missed |
| Same-restaurant sales growth | 3% to 5% | Dec 2025 | same-restaurant sales of 4.5% to 6.5%. | Revised Up |
Claimed
- CAVA revenue increased by 31.3% year-over-year to $365.4 million.
- Same restaurant sales grew 9%, driven by a 5.3% increase in traffic.
- Opened 17 net new restaurants, bringing the total to 476, a 19.6% year-over-year increase.
- Adjusted EBITDA rose 30% to $54.7 million compared to Q2 2025.
- New restaurant productivity was once again above 100%, demonstrating strong market appeal.
Qualified
- Near-term sales were impacted by broad consumer concerns around food safety issues, specifically the Cyclospora outbreak, though trends have since recovered to mid-single digits.
- Food, beverage, and packaging costs increased by 50 basis points to 30% of revenue, primarily due to Salmon launch input costs and anticipated fuel surcharges/pre-marinated chicken rollout.
- Labor and related costs increased by 30 basis points to 25.3% of revenue, driven by a 3% wage investment.
- Other operating expenses increased by 40 basis points to 12.8% of revenue, primarily due to a higher mix of third-party delivery.
The full ledger
Open CAVA GROUP, INC.’s full ledger
A free account opens 5 company ledgers a month. All 51 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 19, 2026
CAVA Q1 FY26 — Strong Sales and Unit Growth Amidst Strategic Investments
Read the full callDec 2025 (Q4 FY25) — Feb 24, 2026
CAVA Q4 FY25 — Strong Growth, Margin Expansion, and Strategic Investments
Read the full callEvery analysed call
CAVA Group earnings calls (CAVA)
Financials
What the filings say
Net profit, year on year: +25% (quarter to jul 2026 against jul 2025).
| Line item | Dec 2023 | Jul 2024 | Oct 2024 | Dec 2024 | Jul 2025 | Oct 2025 | Dec 2025 | Jul 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 177 | 233 | 244 | 227 | 281 | 292 | 275 | 368 |
| Expenses | 179 | 217 | 230 | 223 | 261 | 275 | 272 | 342 |
| Operating profit | -2 | 16 | 14 | 4 | 20 | 17 | 3 | 27 |
| Operating margin | −0.9% | 6.9% | 5.7% | 1.7% | 7.0% | 5.9% | 1.0% | 7.3% |
| Other income | 0 | 0 | 0 | 0 | 0 | -0 | -0 | 0 |
| Profit before tax | 3 | 20 | 18 | 8 | 24 | 21 | 6 | 31 |
| Tax rate | 24.1% | 1.4% | −0.3% | −917.3% | 22.5% | 28.6% | 19.1% | 24.7% |
| Net profit | 2 | 20 | 18 | 79 | 18 | 15 | 5 | 23 |
| EPS ($ per share) | — | 0.17 | 0.16 | — | 0.16 | 0.13 | — | 0.20 |
| Line item | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Reserves | — | -461 | -448 | -317 | -254 |
| Total liabilities | — | 370 | 413 | 474 | 580 |
| Fixed assets | — | 243 | 331 | 373 | 458 |
| Total assets | — | 584 | 984 | 1,170 | 1,360 |
| Line item | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash from operations | 3 | 6 | 97 | 161 | 185 |
| Cash from investing | -56 | -104 | -139 | -108 | -273 |
| Cash from financing | 143 | -3 | 335 | -19 | 5 |
| Net cash flow | 90 | -101 | 293 | 34 | -83 |
| Capital expenditure | -56 | -104 | -139 | -108 | -159 |
| Free cash flow | -53 | -98 | -42 | 53 | 26 |
CAVA revenue by segment
| Segment | FY2024 | FY2024 | FY2025 | FY2025 | FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|
| CAVA | 99% | 99% | 99% | 99% | 99% | +31.3% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
CAVA operating KPIs by quarter
| KPI | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Restaurants | 439During the fourth quarter, we opened 24 net new restaurants, ending the year with 439 locations across 28 states and the District of Columbia.Source: earnings call transcript | 459Our first quarter highlights include a 32.2% increase in CAVA revenue, same-restaurant sales of 9.7% driven by 6.8% traffic, 20 net new restaurants, ending the quarter with 459 restaurants, a 20.2% increase year-over-year, adjusted EBITDA of $61.7 million a 37.6% increase over the first quarter of 2025, net income of $23.6 million and $15.5 million in free cash flow.Source: earnings call transcript | 476Our second quarter financial highlights include a 31.3% increase in CAVA revenue, same restaurant sales of 9%, driven by 5.3% traffic, 17 net new restaurants, ending the quarter with 476 restaurants, a 19.6% increase year-over-year, adjusted EBITDA of $54.7 million, a 30% increase over the second quarter of 2025, net income of $23 million and $44.8 million in year-to-date free cash flow.Source: earnings call transcript | +3.7% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
67 filings between Nov 10, 2025 and Sep 15, 2026.
Open market
decisions to buy or sellPurchases
$1.15M
7 purchases by 3 insiders
Sales
$286.12M
34 sales by 8 insiders
Compensation
not trading decisions- 15
- Award — granted as compensation
- 9
- Option exercise — converted options into shares
Also filed: 2 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Artal Participations S.a r.l. | — | $270.90M | Jun 15, 2026 |
| Costanza Kelly | — | $5.09M | Jun 17, 2026 |
| Schulman Brett | $7.3K | $4.71M | Jun 15, 2026 |
| Bertram Kenneth Robert | — | $1.53M | Mar 5, 2026 |
| Xenohristos Theodoros | — | $1.14M | Jun 15, 2026 |
| Phillips Adam David | — | $1.11M | Jun 15, 2026 |
| Thompson Douglas W. | $944.9K | — | Aug 31, 2026 |
| KOCHEVAR KAREN | — | $900.0K | Jun 18, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 15, 2026 | KADOW JOSEPH JOHN CLO & Secretary | Purchase | 1,000 | $50.0K |
| Sep 9, 2026 | Xenohristos Theodoros Chief Concept Officer | Gift | 16,500 | $0 |
| Sep 9, 2026 | Xenohristos Theodoros Chief Concept Officer | Gift | 16,500 | $0 |
| Aug 31, 2026 | Thompson Douglas W. Chief Operations Officer | Purchase | 6,500 | $432.4K |
| Aug 13, 2026 | Thomas Amiee Lynn Director | Award | 1,821 | $0 |
| Jun 22, 2026 | Amouyal Philippe Director | Award | 1,881 | $0 |
| Jun 22, 2026 | Shanahan Lauri M Director | Award | 1,881 | $0 |
| Jun 22, 2026 | WHITE JAMES D Director | Award | 1,881 | $0 |
| Jun 22, 2026 | Felt Benjamin Director | Award | 1,881 | $0 |
| Jun 22, 2026 | SHAICH RONALD M Director | Award | 1,881 | $0 |
| Jun 22, 2026 | Bosserman David Director | Award | 1,881 | $0 |
| Jun 18, 2026 | KOCHEVAR KAREN Director | Option exercise | 3,750 | $23.4K |
| Jun 18, 2026 | KOCHEVAR KAREN Director | Option exercise | 625 | $1.8K |
| Jun 18, 2026 | KOCHEVAR KAREN Director | Sale | 10,000 | $900.0K |
| Jun 18, 2026 | KOCHEVAR KAREN Director | Option exercise | 3,750 | $35.9K |
| Jun 18, 2026 | KOCHEVAR KAREN Director | Option exercise | 1,875 | $5.8K |
| Jun 17, 2026 | Costanza Kelly Chief People Officer | Sale | 12,490 | $1.12M |
| Jun 15, 2026 | Schulman Brett CEO and President | Sale | 33,174 | $2.97M |
| Jun 15, 2026 | Costanza Kelly Chief People Officer | Sale | 2,870 | $256.7K |
| Jun 15, 2026 | Xenohristos Theodoros Chief Concept Officer | Sale | 3,252 | $290.8K |
| Jun 15, 2026 | Tolivar Tricia K. Chief Financial Officer | Award | 283 | $12.5K |
| Jun 15, 2026 | Tolivar Tricia K. Chief Financial Officer | Sale | 4,969 | $444.4K |
| Jun 15, 2026 | Artal Participations S.a r.l. Director | Sale | 3,000,000 | $270.90M |
| Jun 15, 2026 | Phillips Adam David Chief Accounting Officer | Sale | 757 | $67.7K |
| Jun 12, 2026 | Phillips Adam David Chief Accounting Officer | Sale | 1,900 | $172.3K |
| Jun 12, 2026 | Phillips Adam David Chief Accounting Officer | Sale | 2,764 | $250.7K |
| Jun 12, 2026 | Phillips Adam David Chief Accounting Officer | Option exercise | 2,764 | $60.8K |
| Jun 3, 2026 | KADOW JOSEPH JOHN CLO & Secretary | Purchase | 1,000 | $70.0K |
| May 29, 2026 | Thompson Douglas W. Chief Operations Officer | Purchase | 2,500 | $194.8K |
| May 29, 2026 | KADOW JOSEPH JOHN CLO & Secretary | Purchase | 1,000 | $79.0K |
| May 26, 2026 | Thompson Douglas W. Chief Operations Officer | Purchase | 4,000 | $317.8K |
| May 21, 2026 | Phillips Adam David Chief Accounting Officer | Option exercise | 5,181 | $49.6K |
| May 21, 2026 | Phillips Adam David Chief Accounting Officer | Sale | 5,181 | $399.7K |
| May 21, 2026 | Costanza Kelly Chief People Officer | Sale | 10,010 | $799.5K |
| May 11, 2026 | Xenohristos Theodoros Chief Concept Officer | Sale | 9,044 | $721.3K |
| Mar 5, 2026 | Bertram Kenneth Robert CLO & Secretary | Sale | 15,000 | $1.20M |
| Feb 26, 2026 | Schulman Brett CEO and President | Award | 29,060 | $0 |
| Feb 26, 2026 | Tolivar Tricia K. Chief Financial Officer | Award | 7,966 | $0 |
| Feb 26, 2026 | Phillips Adam David Chief Accounting Officer | Award | 1,070 | $0 |
| Feb 26, 2026 | Xenohristos Theodoros Chief Concept Officer | Award | 4,721 | $0 |
| Feb 26, 2026 | Bertram Kenneth Robert CLO & Secretary | Award | 3,836 | $0 |
| Feb 26, 2026 | Phillips Adam David Chief Accounting Officer | Sale | 2,000 | $171.1K |
| Feb 26, 2026 | Costanza Kelly Chief People Officer | Sale | 31,803 | $2.69M |
| Feb 26, 2026 | Costanza Kelly Chief People Officer | Option exercise | 31,803 | $214.7K |
| Feb 26, 2026 | Costanza Kelly Chief People Officer | Award | 4,721 | $0 |
| Jan 27, 2026 | Xenohristos Theodoros Chief Concept Officer | Sale | 688 | $42.6K |
| Jan 27, 2026 | Phillips Adam David Chief Accounting Officer | Sale | 262 | $16.4K |
| Jan 27, 2026 | Phillips Adam David Chief Accounting Officer | Sale | 512 | $31.7K |
| Jan 27, 2026 | Bertram Kenneth Robert CLO & Secretary | Sale | 336 | $21.0K |
| Jan 27, 2026 | Bertram Kenneth Robert CLO & Secretary | Sale | 658 | $40.8K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
Your own record
Start an Inve Case for CAVA GROUP, INC.
Free account. Everything above stays public.
Write why you follow CAVA GROUP, INC. and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
Keep reading