Chipotle Mexican Grill (CMG) Tops Q1 EPS by $1.55

Chipotle Mexican Grill (NYSE: CMG) reported Q1 EPS of $10.50, $1.55 better than the analyst estimate of $8.95. Revenue for the quarter came in at $2.4 billion versus the consensus estimate of $2.34 billion.

For 2023, management is anticipating the following:

• Second quarter and full year comparable restaurant sales growth in the mid to high-single digit range
• 255 to 285 new restaurant openings (including 10 to 15 relocations to add a Chipotlane), which assumes utility, construction, permit and material supply delays do not worsen
• An estimated underlying effective full year tax rate between 25% and 27% before discrete items

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

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