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Chipotle Mexican Grill Analysts Raise Their Forecasts After Better-Than-Expected Earnings
Chipotle Mexican Grill, Inc. (NYSE:CMG) reported better-than-expected first-quarter financial results.
Chipotle said first-quarter revenue increased 14.1% year-over-year to $2.702 billion, which beat the consensus estimate of $2.675 billion, according to Benzinga Pro. The fast-casual restaurant chain company reported adjusted earnings of $13.37 per share, which beat analyst estimates of $11.68 per share.
Comparable restaurant sales increased 7% year-over-year due to higher transactions and a 1.6% increase in average check.
"We had another outstanding quarter driven by our improvement in throughput and successful marketing initiatives, including Braised Beef Barbacoa and Chicken ...