First-quarter revenue and profit surpassed Wall Street expectations.

Restaurant chain Cava Group (CAVA) beat expectations for quarterly results and raised its core earnings forecast for the full year on Thursday.

The company maintained its annual same-store sales forecast. Shares fell 4% in extended trading.

Cava reported healthy results overall, as it attracted more customers to its value meals.

For the quarter that ended April 20, net sales climbed 28% to $332 million, beating analysts' estimate of $327 million. Cava reported earnings of $0.22 per share compared to expectations of $0.14.

The company raised its fiscal 2025 adjusted EBITDA outlook to $152 million–$159 million from a prior $150 million–$157 million, while reaffirming its restaurant sales growth forecast of 6%–8%.

Cava is a Washington, D.C.-based fast-casual restaurant chain specializing in Mediterranean-inspired cuisine, offering customizable bowls, pitas, and salads.

As of May, it operates nearly 400 locations across the U.S., and had earlier stated plans to open up to 68 new restaurants this year.

Cava's meals are typically priced lower than those at its closest competitor Sweetgreen (SG), according to Bloomberg.

The quarterly report contrasts those from peers like Chipotle Mexican Grill (CMG), McDonald's (MCD), and Wendy's (WEN), which all flagged weak consumer trends.

Cava was among the top 10 trending tickers on Stocktwits at the time of writing.

On the platform, retail sentiment climbed higher in the 'extremely bullish' territory, and message volume jumped to 'extremely high.'

A user said the stock "will recover in no time."

“In spite of economic uncertainty and challenging weather, CAVA’s first quarter results demonstrate the continued strength of our category-defining brand,” said CEO and co-founder Brett Schulman.

Cava opened 15 net new restaurants during the quarter, entering Indiana for the first time and expanding its footprint to 26 states and Washington, D.C.

The company also surpassed $1 billion in revenue on a trailing 12-month basis.

Cava listed on the New York Stock Exchange in July 2023. Its shares are down 12.2% this year.

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