Chipotle Mexican Grill (CMG) Misses Q3 EPS by 4c

Chipotle Mexican Grill (NYSE: CMG) reported Q3 EPS of $4.59, $0.04 worse than the analyst estimate of $4.63. Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.22 billion.

Comparable restaurant sales increased 2.6%

Outlook

For 2015, management expects the following:

• We are increasing our guidance to 215-225 new restaurant openings, up from the previously announced range of 190-205
• Low-to-mid single digit comparable restaurant sales increases
• An effective full year tax rate of approximately 38.7%

For 2016, management expects the following:

• 220-235 new restaurant openings
• Low-single digit comparable restaurant sales increases
• An effective full year tax rate of approximately 38.7%

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

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