Chipotle Mexican Grill (CMG) Tops Q3 EPS by 31c, Offers Guidance

Chipotle Mexican Grill (NYSE: CMG) reported Q3 EPS of $4.15, $0.31 better than the analyst estimate of $3.84. Revenue for the quarter came in at $1.08 billion versus the consensus estimate of $1.06 billion. Comparable restaurant sales increased 19.8%

Outlook

For 2014, management expects the following:

• 180 - 195 new restaurant openings
• Mid-teens comparable restaurant sales increases
• An effective full year tax rate of approximately 38.5%

For 2015, management expects the following:

• 190-205 new restaurant openings
• Low to mid-single digit comparable restaurant sales increases
• An estimated effective tax rate of 39.1%

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

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