Chipotle Mexican Grill Q2 Earnings: Revenue Beat, EPS Beat, Comps Up 11% On 'Stronger Demand Trends' And More
Portfolio Pulse from Adam Eckert
Chipotle Mexican Grill Inc (NYSE:CMG) reported strong Q2 earnings, with revenue and EPS beating analyst estimates. Comparable restaurant sales increased by 11.1%, driven by over 8% transaction growth. The company opened 52 new restaurants and repurchased $151.4 million of its stock. Chipotle reiterated its positive outlook for 2024.
July 24, 2024 | 8:31 pm
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Chipotle reported strong Q2 earnings, beating both revenue and EPS estimates. Comparable restaurant sales increased by 11.1%, and the company opened 52 new restaurants. The positive earnings report and optimistic outlook for 2024 are likely to boost investor confidence.
The strong Q2 earnings report, with both revenue and EPS beating estimates, along with significant growth in comparable restaurant sales and new restaurant openings, is likely to positively impact Chipotle's stock price in the short term. The company's positive outlook for 2024 further boosts investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100