[Editor’s Note: This article was updated on April 24, 2020, to correct the amount revenue had grown year over year.]
Chipotle (NYSE:CMG) earnings for first quarter of 2020 have CMG stock up after-hours Tuesday. That’s due to its adjusted earnings per share (EPS) of $3.08 coming in above Wall Street’s estimate of $2.90. The Mexican food chain’s company’s revenue of $1.41 billion, however, is just below analysts’ estimates of $1.42 billion.
Now, let’s take a more in-depth look at the most recent Chipotle earnings report.
- Adjusted per-share earnings are down 9.41% compared to $3.40 in Q1 2019.
- Revenue comes in 7.8% higher than the $1.31 billion from the same time last year.
- Operating income of $71.12 million is a 35.44% decrease year-over-year from $110.16 million.
- The Chipotle earnings report also sees net income coming in at $76.39 million.
- That’s a 13.32% decline from the company’s net income of $88.13 million in the same period of the year prior.
Brian Niccol, Chairman and CEO of Chipotle, said this about the CMG stock earnings.
“Investing in digital over the last several years has allowed us to quickly pivot our business with Q1 digital sales reaching our highest ever quarterly level of $372 million. Our strong brand, business model and balance sheet give us the confidence to not only weather this downturn but continue to judiciously invest in key areas so that when we come out the other side, we will emerge even stronger.”
The Chipotle earnings report has the company withdrawing its outlook for 2020. It cites the novel coronavirus as the reason for this.
CMG stock was up 5.92% after markets closed Tuesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
