Chipotle Mexican Grill (NYSE:CMG) stock is getting a boost on Wednesday thanks to a few bits of news from the fast-food company.
Here are all the latest details on what has CMG stock heading higher today.
- To start off with, the company released earnings results for its second quarter of 2021 yesterday.
- This saw its bring in adjusted diluted earnings per share of $7.46.
- That’s a massive 1,765% increase from the 40 cents per share reported during the same time last year.
- It also easily stomps Wall Street’s EPS estimate of $6.49 for the quarter.
- The company’s revenue for the most recent quarter also comes in at $1.9 billion.
- That represents a 38.7% increase year-over-year.
- It’s also a boon to CMG stock by coming in above analysts’ revenue estimate of $1.88 billion.
- Chipotle also saw its digital sales increase by 10.5% to make up 48.5% of sales.
- Comparable restaurant sales also jumped 31.2% since the same period of the year prior.
- Operating margin also came in at 13%, as compared to -0.4% from the second quarter of 2020.
- In addition to all of this, CMG announced that it’s bringing back gold foil burritos.
- These are being sold for a limited time in celebration of the Olympic Games in Tokyo.
- The company notes that this is the first time it’s released the gold foil burritos since it celebrated its 18th anniversary in 2011.
- The promotional item is meant to inspire customers to cheer for their favorite athletes taking part in the games this year.
CMG stock was up 8.3% as of Wednesday morning.
Investors looking for more recent stock market news will want to keep reading.
InvestorPlace has all the latest stock news with our daily coverage of the market. That includes what has Chembio Diagnostics (NASDAQ:CEMI) on the move today, the biggest pre-market stock movers this morning, as well as yesterday’s biggest stock stories. You can check out all of that at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
