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

Advertisement

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/.

©2024 InvestorPlace Media, LLC