Chipotle (CMG) Higher After Q3 Beat; Food Costs Creep Higher
Tweet
Share
E-mail
Get Alerts CMG Hot Sheet
Price: $36.90 +4.56%
Financial Fact:
Total operating expenses: 1.03B
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Total operating expenses: 1.03B
Today's EPS Names:
BTTX, VAXX, ELYS, More
Join SI Premium – FREE
Chipotle Mexican Grill, Inc. (NYSE: CMG), is looking spicy following better-than-expected third-quarter results Thursday.
Revenue rose 24 percent from $476.87 million last year, to $591.85 million this quarter. Comparable-restaurant sales rose 11.3 percent in the quarter.
Net income for Chipotle soared 25.3 percent from $48.23 million last year to $60.43 million, or $1.90 per diluted share.
Overall, the Street was looking for more modest results to the tune of $583.1 million in revenue and earnings of $1.85 per share.
Notably, Chipotle said food costs rose 2.5 percent to 33.1 percent of sales in the quarter.
In terms of restaurant openings, Chipotle is looking to attain the high-end of its 135 to 145 range. In 2012, Chipotle expects those numbers to grow by 13 to 14 percent, or a range of 155 to 165.
Chipotle is trading 3.6 percent higher following the report.
Revenue rose 24 percent from $476.87 million last year, to $591.85 million this quarter. Comparable-restaurant sales rose 11.3 percent in the quarter.
Net income for Chipotle soared 25.3 percent from $48.23 million last year to $60.43 million, or $1.90 per diluted share.
Overall, the Street was looking for more modest results to the tune of $583.1 million in revenue and earnings of $1.85 per share.
Notably, Chipotle said food costs rose 2.5 percent to 33.1 percent of sales in the quarter.
In terms of restaurant openings, Chipotle is looking to attain the high-end of its 135 to 145 range. In 2012, Chipotle expects those numbers to grow by 13 to 14 percent, or a range of 155 to 165.
Chipotle is trading 3.6 percent higher following the report.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
- Ross Stores, Inc. (ROST) PT Raised to $240 at Bernstein SocGen Group
- Arena Group to rename as Paradium.AI, ticker changing to PAAI
Create E-mail Alert Related Categories
EarningsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
