Chipotle Mexican Grill (CMG) Tops Q1 EPS by 56c, Comps Increase 2.2%

Chipotle Mexican Grill (NYSE: CMG) reported Q1 EPS of $2.13, $0.56 better than the analyst estimate of $1.57. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.15 billion.

Comparable restaurant sales increased 2.2% (net of 50 basis points related to Chiptopia revenue deferral from 2017)

For the full year 2018, management expects:

• Comparable restaurant sales increases in the low-single digits
• 130 to 150 new restaurant openings
• An estimated effective full year tax rate of approximately 32.5% - 33.5%, with quarterly tax rates of around 29% in the second and third quarters and up to as high as 38.5% in the fourth quarter as a result of an additional anticipated write-off of deferred tax assets associated with stock-based compensation awards.

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

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