For the quarter ended June 2023, Chipotle Mexican Grill (CMG) reported revenue of $2.51 billion, up 13.6% over the same period last year. EPS came in at $12.65, compared to $9.30 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.52 billion, representing a surprise of -0.36%. The company delivered an EPS surprise of +3.27%, with the consensus EPS estimate being $12.25.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Chipotle performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Comparable restaurant sales: 7.4% versus 7.29% estimated by 12 analysts on average.
Number of company-owned restaurants - Opened: 47 versus the six-analyst average estimate of 59.67.
Number of company-owned restaurants - Beginning of period: 3224 versus the four-analyst average estimate of 3224.
Average restaurant sales - TTM: $2.94 million versus the three-analyst average estimate of $2.93 million.
Food and beverage revenue: $2.50 billion versus $2.51 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +13.9% change.
Delivery service revenue: $17.29 million versus $16.77 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -15.8% change.
View all Key Company Metrics for Chipotle here>>>
Shares of Chipotle have returned +1.2% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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