Chipotle Mexican Grill (CMG) Tops Q2 EPS by 23c, Comps Increase 10%, Offers Guidance

Chipotle Mexican Grill (NYSE: CMG) reported Q2 EPS of $3.99, $0.23 better than the analyst estimate of $3.76. Revenue for the quarter came in at $1.43 billion versus the consensus estimate of $1.41 billion.

Comparable restaurant sales increased 10.0%, net of 40 bps from loyalty deferral, and included nearly 7% of comparable restaurant transaction growth

Outlook

For 2019, management is anticipating the following:

• High single digit comparable restaurant sales growth, up from the prior mid to high single digit range expectation
• 140 to 155 new restaurant openings
• An estimated underlying effective full year tax rate in the range of 26% and 29%

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

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