05:02 AM EDT, 05/29/2024 (MT Newswires) -- (Updates with the stock move in the last paragraph.)

CAVA Group ( CAVA ) reported fiscal Q1 earnings late Tuesday of $0.12 per diluted share, compared with a loss of $1.30 a year ago.

Analysts polled by Capital IQ expected earnings of $0.04.

Revenue for the quarter that ended April 21 was $259.0 million, up from $203.1 million a year earlier.

Analysts surveyed by Capital IQ expected $245.5 million.

For fiscal 2024, the company now expects same-restaurant sales growth of 4.5% to 6.5%, against 3% to 5% previously. Analysts expected about 4.5% growth.

Shares of the company traded 2% lower in premarket activity Wednesday.

Price: 80.75, Change: -1.65, Percent Change: -2.00