Chipotle Mexican Grill Earnings: Here’s Why Investors Like These Results
Chipotle Mexican Grill, Inc. (NYSE:CMG) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.32%.
Chipotle Mexican Grill, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 10.16% to $2.82 in the quarter versus EPS of $2.56 in the year-earlier quarter.
Revenue: Rose 18.22% to $816.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Chipotle Mexican Grill, Inc. reported adjusted EPS income of $2.82 per share. By that measure, the company beat the mean analyst estimate of $2.81. It beat the average revenue estimate of $802.78 million.
Quoting Management: “We are delighted with our strong financial performance during the second quarter. We know that empowered cultures create excellent teams, who deliver a special dining experience for each customer who visits Chipotle. They attract great employees and develop them to be the very best leaders from within the organization, which not only supports our great operations, but also makes our strong performance sustainable as we add more restaurants,” said Monty Moran, co-CEO
Key Stats (on next page)…