The market for Chipotle Mexican Grill NYSE: CMG stock served up a nice dip, and savvy investors are buying. Lackluster results and guidance drove the dip in price action, but the move is entirely sentiment-driven; the results failed to impress relative to the consensus estimates but are still excellent, driving value gains for investors.
Chipotle says it's tried to ensure "consistent and generous portions" after customer complaints. The move and unusual price fluctuations for avocados have hit the chain's profitability.
Is this stellar business facing troubling headwinds?
CMG's third-quarter 2024 results benefit from new restaurant openings and a rise in comparable restaurant sales.
Chipotle Mexican Grill ( NYSE: CMG ) is a restaurant chain that has developed a big Gen-Z following, in addition to its die-hard loyal diners, who appreciate health-conscious menus that deliver a dining experience that is somewhere in between a fast food restaurant and fine dining.
Chipotle Mexican Grill Inc (NYSE:CMG) shares slumped ahead of Wednesday's opening bell after third-quarter revenue figures disappointed. Revenue climbed by 13% to $2.79 billion over the three months to September, the restaurant operator reported on Tuesday, missing analysts' estimates for $2.82 billion.
Chipotle Mexican Grill, Inc. (NYSE:CMG ) Q3 2024 Earnings Call Transcript October 29, 2024 4:30 PM ET Company Participants Cindy Olsen - Head of Investor Relations and Strategy Scott Boatwright - Interim Chief Executive Officer Adam Rymer - Chief Financial Officer Jack Hartung - President and Chief Strategy Officer Conference Call Participants Andrew Charles - TD Cowan David Tarantino - Baird Sara Senatore - Bank of America David Palmer - Evercore ISI Christine Zhao - Goldman Sachs Brian Harbour - Morgan Stanley John Ivankoe - JPMorgan Lauren Silberman - Deutsche Bank Chris O'Cull - Stifel Brian Bittner - Oppenheimer Sharon Zackfia - William Blair Danilo Gargiulo - Bernstein Operator Good day, and welcome to the Chipotle Mexican Grill Third Quarter 2024 Results Conference Call. All participants will be in listen-only mode.
Although the revenue and EPS for Chipotle (CMG) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Chipotle Mexican Grill (CMG) came out with quarterly earnings of $0.27 per share, beating the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.23 per share a year ago.
Chipotle Mexican Grill (CMG) shares fell in late trading after the company indicated that same-store sales growth may be lower than anticipated.
Restaurant stock Chipotle Mexican Grill CMG reported third-quarter financial results after the market close Tuesday.
Shares of Chipotle Mexican Grill Inc. fell after hours on Tuesday after the Mexican fast-casual chain reported quarterly sales trends that were a bit weaker than expected.