Chipotle Mexican Grill (NYSE: CMG) reported Q1 EPS of $3.40, $0.41 better than the analyst estimate of $2.99. Revenue for the quarter came in at $1.3 billion versus the consensus estimate of $1.26 billion.

Comparable restaurant sales increased 9.9%, net of 30 bps from loyalty deferral, and included 5.8% of comparable restaurant transaction growth and 2% in mix contribution

Outlook

For 2019, management is anticipating the following:

• Mid to high single digit comparable restaurant sales growth, up from the prior mid-single digit growth expectation
• 140 to 155 new restaurant openings
• An estimated underlying effective full year tax rate on the low end of the previously disclosed range of 27.0% and 30.0%, excluding the potential impact of excess tax deductions from equity vesting or exercises

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