CAVA Group, Inc.CAVA beat revenue estimates by 4.7% and its stock rose 7.6%.
Modern fast food stocks reported mixed first-quarter results, with revenues in line with analysts' consensus estimates. Shake Shack posted revenues of $366.7 million, up 14.3% year on year but missing expectations by 1.4%, and its stock has fallen 41.5% since reporting. CAVA was the best performer, with revenues of $438.3 million, up 32.1% year on year and beating estimates by 4.7%, while its stock rose 7.6%. Wingstop's revenues of $183.7 million missed estimates by 2.4%, and its stock declined 5.1%. Chipotle's revenues of $3.09 billion beat estimates by 0.5%, and its stock edged up 1.3%. Portillo's revenues of $182.6 million met expectations, but its stock dropped 17.5%. Collectively, the six tracked stocks saw average share prices decline 3.4% since their earnings releases.
CAVA Group, Inc.CAVA beat revenue estimates by 4.7% and its stock rose 7.6%.
Chipotle Mexican Grill IncChipotle beat revenue estimates by 0.5% and its stock edged up 1.3%.
Portillo's IncPortillo's revenues met expectations but its stock dropped 17.5%.
Shake Shack IncShake Shack missed revenue estimates by 1.4% and its stock fell 41.5%.
Wingstop IncWingstop missed revenue estimates by 2.4% and its stock declined 5.1%.