[Editor’s Note: This article was updated on Feb. 6, 2020, to correct some earnings information.]
Chipotle (NYSE:CMG) earnings for the Mexican food chain’s fourth quarter of 2019 have CMG stock on the move Tuesday. This is after reporting adjusted earnings per share of $2.86 on revenue of $1.44 billion. For comparison, Wall Street was expecting $2.75 per share and revenue of $1.40 billion.
Here’s what else is worth mentioning from the most recent Chipotle earnings report.
- Adjusted per-share earnings are up 66.28% from $1.72 during the fourth quarter of 2018.
- Revenue for the quarter is sitting 17.6% higher than the $1.23 billion from the same time last year.
- Operating income of $98.16 million is a 147.82% increase YoY from $39.61 million.
- The Chipotle earnings report also includes a net income of $72.42 million.
- That’s a 127.16% boost compared to its net income of $32.02 million from the same period of the year prior.
Brian Niccol, Chief Executive Officer of Chipotle, has this to say about the CMG stock earnings report.
“We had a strong ending to 2019 as Q4 marks the eighth-consecutive quarter of accelerating comparable sales, which highlights that running great restaurants with the right leaders and the right culture is delivering outstanding financial performance.”
The Chipotle earnings report also includes its outlook for 2020. The company is expecting revenue to see a mid-single-digit increase in restaurant sales growth.
CMG stock was up slightly in after-hours trading on Tuesday. The stock closed out the day up 2.14%.
As of this writing, William White did not hold a position in any of the aforementioned securities.