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Chipotle Mexican Grill (CMG) Q1 2020 earnings top estimates

Trade News by Trade News
April 21, 2020
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Chipotle Mexican Grill (CMG) Q1 2020 earnings top estimates
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An employee prepares a burrito bowl at a Chipotle Mexican Grill Inc. restaurant in Louisville, Kentucky.

Luke Sharrett | Bloomberg | Getty Images

Chipotle Mexican Grill on Tuesday said digital sales more than doubled in March, helping the company report positive same-store sales growth even as social-distancing measures roil the restaurant industry.

Shares of the company rose 3.6% in extended trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: $3.08, adjusted, vs. $2.90 expected
  • Revenue: $1.41 billion vs. $1.41 billion expected

The burrito chain reported fiscal first-quarter net income of $76.39 million, or $2.70 per share, down from $88.13 million, or $3.13 per share, a year earlier.

Excluding items, Chipotle earned $3.08 per share.

Net sales rose 7.8% to $1.41 billion. Same-store sales rose 3.3%, although overall transactions fell 1.4%.

Wall Street anticipated earnings per share of $2.90…



Source cnbc.com

Tags: ChipotleCMGearningsestimatesgrillMexicantop
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