Chipotle up after quarterly sales beat
CMG•Chipotle Mexican Grill reported third-quarter comparable restaurant sales growth of 2.1%, above the 1.4% estimate, while revenue rose 9.6% to $3.29 billion, in line with expectations. Adjusted earnings per share missed estimates as labor, packaging and raw-material costs rose.
1. Sales beat estimates
Chipotle’s third-quarter comparable restaurant sales rose 2.1%, compared with an estimated 1.4% increase, helped by steady traffic for value deals and limited-time offerings. Revenue increased 9.6% to $3.29 billion, in line with expectations, but adjusted earnings per share missed estimates as labor, packaging and raw-material costs rose.
