WASHINGTON (AP) — WASHINGTON (AP) — Cava Group Inc. (CAVA) on Monday reported fourth-quarter net income of $2 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Washington-based company said it had net income of 2 cents.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The Mediterranean restaurant chain posted revenue of $177.2 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $175.2 million.
For the year, the company reported profit of $13.3 million, or 21 cents per share. Revenue was reported as $728.7 million.
Cava shares have climbed 17% since the beginning of the year.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAVA at https://www.zacks.com/ap/CAVA