Chipotle Mexican Grill (CMG) Tops Q2 EPS by 36c; offers outlook

Chipotle Mexican Grill (NYSE: CMG) reported Q2 EPS of $12.65, $0.36 better than the analyst estimate of $12.29. Revenue for the quarter came in at $2.5 billion versus the consensus estimate of $2.53 billion.

For 2023, management is anticipating the following:

Third quarter comparable restaurant sales growth in the low to mid-single digit range
Full year comparable restaurant sales growth in the mid to high-single digit range
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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