Chipotle Mexican Grill IncCMG
▲ PositiveCapitalrelevance
Earnings beat and same-store sales acceleration drive shares up 12.7%
Impact on stocks 1
Consumer Discretionary
Chipotle Mexican Grill IncShares of Chipotle surged 12.7% after the fast-casual chain reported second-quarter adjusted earnings of $0.33 per share, narrowly beating the consensus estimate of $0.32. Revenue grew 9.3% year on year to $3.35 billion, in line with analyst forecasts, while same-store sales rose 2.2%, an acceleration from recent performance. The operating margin fell to 15.7% from 18.2% a year earlier, raising some concerns about rising expenses, but the market focused on the positive earnings surprise and the encouraging same-store sales trend.
Chipotle Mexican Grill IncEarnings beat and same-store sales acceleration drive shares up 12.7%