Chipotle Mexican Grill Earnings: Still in Growth Mode
Chipotle Mexican Grill, Inc. (NYSE:CMG) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are flat.
Chipotle Mexican Grill, Inc. Earnings Cheat Sheet
Results: Net income increased 6.84% to $61.4 million ($1.95 per diluted share) in the quarter versus a net gain of $57.47 million in the year-earlier quarter.
Revenue: Rose 17.17% to $699.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Chipotle Mexican Grill, Inc. reported adjusted net income of $1.95 per share. By that measure, the company missed the mean analyst estimate of $1.96. It beat the average revenue estimate of $698.86 million.
Quoting Management: “During 2012, we remained focused on our mission to change the way people think about and eat fast food. We’re rewriting the fast food rules, sourcing more and more sustainably raised ingredients and respecting farmers, the environment, animals, and ultimately our customers…