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Chipotle tops earnings, revenue expectations

Amelia Lucas
  • Chipotle reported earnings after the bell Wednesday.
  • The chain's stock has soared 63% so far in 2019.
  • The company has been focusing on driving sales through digital engagement with a new loyalty program and investments in delivery and online order pick-up.

Chipotle Mexican Grill CMG on Wednesday reported quarterly earnings and revenue that beat analysts' expectations.

After the markets closed, shares of the company initially surged 4% but were recently trading down 2%.

Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: $3.40, adjusted, vs. $3.01 expected
  • Revenue: $1.31 billion vs. $1.27 billion expected
  • Same-store sales growth: 9.9% vs. 7.29%

Chipotle reported fiscal first-quarter net income of $88.1 million, or $3.13 per share, up from $59.4 million, or $2.13 per share a year earlier.

Excluding items, the Mexican food chain earned $3.40 per share, topping the $3.01 per share expected by analysts surveyed by Refinitiv.

Net sales rose 13.9% to $1.31 billion, beating expectations of $1.27 billion.

Watch: How Taco Bell dominates the Mexican fast-food market

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