Chipotle Stock Surges on Q4 Earnings Beat, in-Line Revenue

Chipotle stock (NYSE:CMG) is surging after hours on Thursday as the company unveiled its latest quarterly earnings results, which included a profit that surpassed what analysts expected, while its revenue was in line with expectations.

Chipotle StockThe Mexican burrito chain said that for its third quarter of fiscal 2018

, it brought in net income of $38.2 million, or $1.36 per share, which is stronger than its net income from the year-ago quarter of $19.6 million, or 69 cents per share. On an adjusted basis, the company brought in earnings of $2.16 per share, which is better than the $2 per share that analysts were calling for, according to data compiled by Refinitiv.

Chipotle added that its revenue for the period came in at $1.23 billion, which is in line with what the Wall Street consensus estimate was calling for, according to data compiled by Refinitiv. The figure was also an 8.6% improvement higher than its sales from the year-ago quarter.

The company added that its same-store sales for the period grew by about 4.4% compared to its year-ago quarter, but it was weaker than the 5% that analysts were calling for, according to Refinitiv. Chipotle added that its digital sales grew 48.3% during the quarter.

CMG stock soared nearly 5% after the bell on Thursday as the company reported its latest quarterly earnings results late in the  day, which were better than analysts expected. The company’s shares gained 2.5% during regular trading hours in anticipation of its results.


Article printed from InvestorPlace Media, https://investorplace.com/2018/10/chipotle-stock-cmg-chipotle-mexican-grill/.

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