Chipotle Mexican Grill (CMG) Q1 2021 earnings beat

Chipotle Mexican Grill (CMG) Q1 2021 earnings beat

An individual sporting a protecting masks and gloves exits a Chipotle restaurant in San Francisco, California, April 19, 2021.

David Paul Morris | Bloomberg | Getty Pictures

Chipotle Mexican Grill on Wednesday topped earnings estimates as the corporate’s digital gross sales overtook in-person orders for the primary time.

Subsequent quarter, Chipotle will face off towards final yr’s weakest quarter. Which means same-store gross sales development are anticipated to surge as a lot as 30{6b17707e448e34f54d6d1a9e433426abf2addbba8938cba1c35a09fc0ada7803}.

Here is what the corporate reported in contrast with what Wall Avenue was anticipating, primarily based on a survey of analysts by Refinitiv:

  • Earnings per share: $5.36 adjusted vs. $4.89 anticipated
  • Income: $1.74 billion vs. $1.74 billion anticipated

Chipotle reported fiscal first-quarter internet earnings of $127.1 million, or $4.45 per share, up from $76.4 million, or $2.70 per share, a yr earlier.

Excluding closure prices, restructuring bills and different gadgets, the corporate earned $5.36 per share, topping the $4.89 per share anticipated by analysts surveyed by Refinitiv.

Web gross sales rose 23.4{6b17707e448e34f54d6d1a9e433426abf2addbba8938cba1c35a09fc0ada7803} to $1.74 billion, assembly expectations. Identical-store gross sales climbed 17.2{6b17707e448e34f54d6d1a9e433426abf2addbba8938cba1c35a09fc0ada7803} within the quarter, fueled by new menu gadgets, digital gross sales and stimulus funds. Digital orders greater than doubled throughout the quarter and accounted for 50.1{6b17707e448e34f54d6d1a9e433426abf2addbba8938cba1c35a09fc0ada7803} of complete gross sales.

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