Chipotle Mexican Grill (CMG) Tops Q4 EPS by 68c; offers outlook

Chipotle Mexican Grill (NYSE: CMG) reported Q4 EPS of $10.36, $0.68 better than the analyst estimate of $9.68. Revenue for the quarter came in at $2.52 billion versus the consensus estimate of $2.49 billion.

OUTLOOK

For 2024, management is anticipating the following:

Full year comparable restaurant sales growth in the mid-single digit range
285 to 315 new restaurant openings, which assumes developer, permit, inspection, and utility 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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