Chipotle Mexican Grill (CMG) Tops Q3 EPS by 2c, Misses on Revenue; Offers Guidance

Chipotle Mexican Grill (NYSE: CMG) reported Q3 EPS of $0.27, $0.02 better than the analyst estimate of $0.25. Revenue for the quarter came in at $2.79 billion versus the consensus estimate of $2.82 billion.

For 2024, management is anticipating the following:

Full year comparable restaurant sales growth in the mid to high-single digit range
285 to 315 new company-operated restaurant openings with over 80% having a Chipotlane
An estimated underlying effective full year tax rate between 24% and 26% before discrete items

For 2025, management is anticipating the following:

315 to 345 new company-operated restaurant openings with over 80% having a Chipotlane

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

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