Chipotle Mexican Grill Inc. (NYSE:CMG) posted its second-quarter results after Wednesday’s closing bell, beating analyst estimates on the top and bottom lines.
Here’s a look at the details inside the report.
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Chipotle Q2 Details
Chipotle Mexican Grill reported quarterly earnings of 33 cents per share, which beat the analyst consensus estimate of 32 cents, according to Benzinga Pro data.
Quarterly revenue came in at $3.35 billion, which beat the analyst consensus estimate of $3.33 billion and was up from $3.06 billion in the same period last year.
Chipotle reported the following second-quarter highlights (year-over-year):
- Comparable restaurant sales increased 2.2%
- Operating margin was 15.7%, a decrease from 18.2%
- Restaurant level operating margin was 25.2%, a decrease from 27.4%
- Opened 100 company-owned restaurants, with 80 locations including a Chipotlane. We also opened one international partner-operated restaurant.
“Our positive results reflect the momentum we’re building as our Recipe for Growth strategy continues to take shape,” said CEO Scott Boatwright.
“We’re seeing encouraging progress because we’re focused on the right growth drivers — bringing meaningful menu innovation to our guests, deepening engagement through Chipotle Rewards, elevating hospitality in every restaurant and expanding opportunities to serve more group occasions,” Boatwright added.
CMG Stock Price Activity: According to data from Benzinga Pro, Chipotle stock was up 6.6% to $36.50 in Wednesday’s extended trading.
Photo: Shutterstock
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