Cava Group (CAVA) shares surged in intraday trading Friday, a day after the company raised its 2024 guidance and said its new grilled steak is "significantly outperforming" expectations.

The fast-casual Mediterranean chain boosted its 2024 澳洲幸运5官方开奖结果体彩网:same-store sales estimate to 9% from 5.5% at the midpoint and its adjusted EBITDA midpoint projection to $111.5 million from $102.5 millio🌃n. In the second quarter, sale-store sales growth was 14.4% year-over-year, and Cava added 18 net new locations. 

Revenue for the period grew 35% to $233.5 million but diluted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) dec🔯lined by 4 cents to 17 cents. Both topped consensus expectations of analysts polled by Visible Alpha. 

New Steak Offering 'Significantly Outperforming' Expectations

澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Brett Schulman attributed the revenue bump in pa🌳rt to a new protein dish. 

"We launched our new grilled steak main, once again exhibiting our excellence in culinary innovation," Schulman said. "Grilled steak is significantly outperforming our expectations and giving guests another reason to visit CAVA and come back more often."

Shares of Cava Group jumped about 17% to $119.21 as of 10:30 a.m. ET Friday and are up more than 175% in 2024.