Chipotle Shares Get Burnt After Company Serves Up Mixed Q2 Earnings
Portfolio Pulse from Adam Eckert
Chipotle Mexican Grill Inc (NYSE:CMG) reported Q2 revenue of $2.51 billion, missing the consensus estimate of $2.53 billion, but beating earnings per share estimates with $12.65 against $12.31. The company saw a 13.6% YoY increase in revenue, a 7.4% increase in comparable restaurant sales, and a 15.8% increase in in-restaurant sales. Digital sales represented 38% of food and beverage revenue. The company opened 47 new restaurants in the quarter. However, shares fell 8.04% after hours.
July 26, 2023 | 8:24 pm
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Chipotle's Q2 earnings report showed mixed results with revenue missing estimates but EPS beating them. Despite YoY growth and new restaurant openings, shares fell 8.04% after hours.
Chipotle's Q2 earnings report showed a miss on revenue estimates, which is a key metric for investors. Despite beating EPS estimates and showing YoY growth, the revenue miss likely contributed to the after-hours drop in share price.
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