Chipotle (CMG) topped analysts’ estimates on both top and bottom lines for the first-quarter. And, the company announced a delicious new development — dessert will be on the menu very soon.
During Tuesday’s investor relations call, Chipotle CEO Steve Ells announced one of the desserts the company will begin testing at the end of the month.
Chipotle plans to offer buñuelos, a traditional Mexican dessert, comprised of fried tortilla strips with honey and cinnamon sugar that’s served with caramel apple dipping sauce.
“It’s simple to make and requires us to add just a few additional ingredients,” Ells noted. “They’re delicious and complement our menu nicely.”
On Tuesday, the Mexican fast food chain reported EPS of $1.60 on revenue of $1.07 billion topping Wall Street expectations. Analysts were expecting EPS of $1.27 on revenue of $1.05 billion. Shares spiked 5.5% on the report.
Comparable restaurant sales rose 17.8% vs. analysts’ forecast of 15.5% growth. Sales grew for the first time since its E. Coli crisis in 2015. Though the company first announced its vague plans to offer dessert options in October, investors and consumers were left wondering what to expect.
Ells emphasized that he is as optimistic as he’s ever been given the positive quarter. The company did note, however, that they are currently undergoing an investigation into payment systems fraud from March 24 through April 18. But the company believes that unauthorized actions have been stopped. Executives did not provide further comment on the call.
Melody Hahm is a writer at Yahoo Finance, covering entrepreneurship, technology and real estate. Follow her on Twitter @melodyhahm.
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