Chipotle Mexican Grill (CMG) Tops Q2 EPS by 2c, Comps Increase 11.1%

Chipotle Mexican Grill (NYSE: CMG) reported Q2 EPS of $0.34, $0.02 better than the analyst estimate of $0.32. Revenue for the quarter came in at $3 billion versus the consensus estimate of $2.94 billion.

Comparable restaurant sales increased 11.1%

Outlook

For 2024, management is anticipating the following:

• Full year comparable restaurant sales growth in the mid to high-single digit range
• 285 to 315 new restaurant openings with over 80% having a Chipotlane
• 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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