Chipotle (CMG) Higher After Q3 Beat; Food Costs Creep Higher
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Price: $2,915.00 +1.07%
Revenue Growth %: +11.3%
Financial Fact:
Occupancy: 74.2M
Today's EPS Names:
SFST, VLTO, CLIR, More
Revenue Growth %: +11.3%
Financial Fact:
Occupancy: 74.2M
Today's EPS Names:
SFST, VLTO, CLIR, More
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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.
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