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Chipotle Earnings: CMG Stock Gains on Strong Q1 Profit, Sales

Karl Utermohlen

Chipotle (NYSE:CMG) unveiled its latest quarterly earnings figures after hours Wednesday, raking in revenue and earnings that handily topped what Wall Street called for, boosting CMG stock slightly late in the day.

Chipotle Earnings

The Mexican food fast casual chain — based out of Newport Beach, Calif. — announced that for its first quarter of its fiscal 2019, it brought in net income of $88.1 million, or $3.13 per share. The figure marked a 48.3% increase when compared to its profit from the year-ago quarter, which amounted to $59.4 million, or $2.13 per share.

Chipotle added that for its first three months of the year, it brought in adjusted earnings of $3.40 per share. The Wall Street consensus estimate predicted that the company would bring in adjusted earnings of $3.01 per share, according to a survey of analysts conducted by Refinitiv.

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The restaurant operator added that its revenue for the period tallied up to $1.31 billion, marking a 13.9% increase when compared to the company’s sales during the same period in its fiscal 2018. The amount was also a beat over what Wall Street called for as analysts who were surveyed by Refinitiv saw Chipotle bringing in revenue of $1.27 billion.

It was also a positive period on the company’s same-store sales, which grew 9.9% when compared to the year-ago quarter, ahead of the 7.29% growth that analysts polled by Refinitiv predicted.

CMG stock gained 0.3% after hours after the report. Shares had been up 1% during regular tradin ghours.

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