Chipotle Mexican Grill (CMG) Misses Q4 EPS by 63c, comparable restaurant sales increased 5.6%

Chipotle Mexican Grill (NYSE: CMG) reported Q4 EPS of $8.29, $0.63 worse than the analyst estimate of $8.92. Revenue for the quarter came in at $2.2 billion versus the consensus estimate of $2.23 billion.

• Comparable restaurant sales increased 5.6%

Outlook:

For 2023, management is anticipating the following:

• Based on January comparable restaurant sales growth in the low-double-digits, we anticipate first quarter comparable restaurant sales growth in the high-single-digits
• 255 to 285 new restaurant openings (including 10 to 15 relocations to add a Chipotlane), which assumes utility, construction, permit and material supply delays do not worsen
• An estimated underlying effective full year tax rate between 25% and 27% before discrete items

For earnings history and earnings-related data on Chipotle Mexican Grill (CMG) click here.

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