Chipotle Mexican Grill (CMG) Tops Q2 EPS by 26c

Chipotle Mexican Grill (NYSE: CMG) reported Q2 EPS of $9.30, $0.26 better than the analyst estimate of $9.04. Revenue for the quarter came in at $2.2 billion versus the consensus estimate of $2.25 billion. Comparable restaurant sales increased 10.1%.

GUIDANCE:

For 2022, management is anticipating the following:

• Third quarter comparable restaurant sales growth, including planned price increases in August, in the mid to high-single digits.
• Between 235 to 250 new restaurant openings (including 10 to 15 relocations to add a Chipotlane), which assumes construction, permit and material supply delays don\'t worsen
• An estimated underlying effective full year tax rate between 25% and 27% before discrete items

For earnings history and earnings-related data on Chipotle Mexican Grill (CMG) click here.

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