The CEO of fast-casual Mexican chain Chipotle is now weighing in on the debate around the portion size of its burrito bowls. It's been an ongoing issue.
Shares of Chipotle Mexican Grill, Inc. CMG tanked in early trading on Thursday, after the company reported its second-quarter results.
Chipotle Mexican Grill NYSE: CMG was not immune to the broad market sell-off. Still, its operational quality belied the move and proved it was a buy-the-dip opportunity.
Chipotle's (CMG) second-quarter top line reflects strong contributions from new restaurant openings, enhanced throughput and successful promotions of Chicken Al Pastor.
Chipotle Mexican Grill, Inc.'s Q2 2024 revenue grew by 18.2% y/y, with EPS rising 32% y/y to $0.33 per share. Chipotle's stock initially rose by 15% post-earnings, but investors quickly faded the bounce due to concerns about upcoming margin pressures and deceleration in sales growth. Despite being a fan of Chipotle's business, I am not a buyer of CMG stock at current levels due to valuation concerns.
Chipotle just split its stock 50-for-1. It has been growing at a healthy clip.
Shares in fast casual restaurant Chipotle Mexican Grill (CMG) jumped more than 4% in extended trading Wednesday after the burrito maker served up second quarter results above Wall Street's expectations, as demand for the chain's menu items allowed it to avoid lowering prices, helping to sustain revenue growth.
Earnings per share (EPS) surpassed expectations. Q2 revenue saw significant year-over-year growth.
Chipotle Mexican Grill, Inc. (NYSE:CMG ) Q2 2024 Earnings Conference Call July 24, 2024 4:30 PM ET Company Participants Cindy Olsen - Head, IR and Strategy Brian Niccol - Chairman and CEO Jack Hartung - CFO and CAO Conference Call Participants David Tarantino - Baird Sara Senatore - Bank of America Dennis Geiger - UBS Peter Saleh - BTIG Christine Cho - Goldman Sachs Sharon Zackfia - William Blair John Ivankoe - JPMorgan Andrew Charles - TD Cowen Lauren Silberman - Deutsche Bank Jon Tower - Citi Brian Harbour - Morgan Stanley Danilo Gargiulo - Bernstein Chris O'Cull - Stifel Operator Good afternoon, and welcome to the Chipotle Second Quarter Fiscal 2024 Earnings Call. All participants will be in listen-only mode.
The headline numbers for Chipotle (CMG) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Chipotle Mexican Grill (CMG) came out with quarterly earnings of $0.34 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.25 per share a year ago.
As restaurants look to boost digital engagement, Chipotle is seeing that its efforts to make online participation more exciting are paying off.