Key TakeawaysShares in fast casual restaurant Chipotle Mexican Grill jumped in extended trading Wednesday after the burrito maker reported second-quarter results that came in above Wall Street’s expectations.Following a correction of around 24%, Chipotle shares appear to have found support near a trendline linking prior price action and the 200-day moving average, setting the stage for a post-earnings pop.Chipotle shares may run into overhead resistance at key chart levels including $57, $61, and $65. Share ...

The fast-casual restaurant chain just completed a strong quarter fueled by growth and operational efficiency.Key PointsEarnings per share (EPS) surpassed expectations.Q2 revenue saw significant year-over-year growth.Operational margins improved despite rising costs.Fast-casual restaurant chain Chipotle Mexican Grill(CMG -1.47%)released second-quarter earnings on Wednesday that showed significant earnings and revenue growth, exceeding analysts' expectations. Chipotle's EPS of $0.33 jumped 32% year over year ...

Chipotle Mexican Grill, Inc. (NYSE:CMG) Q2 2024 Earnings Conference Call July 24, 2024 4:30 PM ET Company Participants Cindy Olsen - Head, IR and Strategy Brian Niccol - Chairman and CEO Jack Hartung - CFO and CAO Conference Call Participants David Tarantino - Baird Sara Senatore - Bank of America Dennis Geiger - UBS Peter Saleh - BTIG Christine Cho - Goldman Sachs Sharon Zackfia - William Blair John Ivankoe - JPMorgan Andrew Charles - TD Cowen Lauren Silberman - Deutsche Bank Jon Tower - Citi Brian Harbour ...

Chipotle Mexican Grill (CMG) reported $2.97 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 18.2%. EPS of $0.34 for the same period compares to $0.25 a year ago.The reported revenue represents a surprise of +1.27% over the Zacks Consensus Estimate of $2.94 billion. With the consensus EPS estimate being $0.31, the EPS surprise was +9.68%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wal ...

Revenue and Sales Performance - Total revenue increased 18.2% to $3.0 billion in Q2 2024[1][2] - Comparable restaurant sales increased 11.1% driven by 8.7% transaction growth and 2.4% increase in average check[1][2] - Digital sales represented 35.3% of total food and beverage revenue[2] - Total revenue for the six months ended June 30, 2024, was $5,674,966 thousand, a 16.2% increase from $4,883,381 thousand in 2023[15] - Comparable restaurant sales increased by 11.1% for the three months ended June 30, 2024, compared to 7.4% in the same period in 2023[20] Profitability and Earnings - Diluted earnings per share increased 32.0% to $0.33, with adjusted diluted EPS up 36.0% to $0.34[1][5] - Net income increased to $455.7 million, up from $341.8 million in Q2 2023[5] - Net income for the six months ended June 30, 2024, was $814,958 thousand, a 28.7% increase from $633,434 thousand in 2023[15] - Adjusted net income for the three months ended June 30, 2024, was $462,991 thousand, compared to $350,894 thousand in the same period in 2023[25] - Adjusted diluted earnings per share for the three months ended June 30, 2024, was $0.34, compared to $0.25 in the same period in 2023[25] - Income from operations rose to $586,053 thousand (19.7% of total revenue) in 2024, up from $431,810 thousand (17.2% of total revenue) in 2023[31] Restaurant Operations and Expansion - Restaurant level operating margin improved to 28.9%, up 140 basis points from 27.5% in Q2 2023[1][4] - Opened 52 new company-operated restaurants, including 46 with Chipotlane, and one international licensed restaurant[1][2] - Full year 2024 guidance: comparable restaurant sales growth in mid to high-single digit range, 285-315 new restaurant openings with over 80% having Chipotlane[7] - Company-operated restaurants opened 52 in the three months ended June 30, 2024, compared to 47 in the same period in 2023[20] - Restaurant level operating margin increased to 28.9% in 2024 from 27.5% in 2023[31] Costs and Expenses - Food, beverage and packaging costs remained stable at 29.4% of total revenue[3] - Adjusted general and administrative expenses for the three months ended June 30, 2024, were $171,253 thousand, compared to $153,001 thousand in the same period in 2023[27] - General and administrative expenses decreased to 5.9% of total revenue in 2024 from 6.2% in 2023[31] - Depreciation and amortization expenses decreased to 2.8% of total revenue in 2024 from 3.1% in 2023[31] - Pre-opening costs remained stable at 0.3% of total revenue in both 2024 and 2023[31] - Impairment, closure costs, and asset disposals decreased to 0.2% of total revenue in 2024 from 0.6% in 2023[31] Share Repurchase and Cash Flow - Repurchased $151.4 million of stock at an average price of $63.52 per share, with $647.7 million remaining under share repurchase authorization[5] - Cash and cash equivalents increased to $806,528 thousand as of June 30, 2024, from $560,609 thousand as of December 31, 2023[16] - Net cash provided by operating activities for the six months ended June 30, 2024, was $1,131,812 thousand, a 9.1% increase from $1,037,546 thousand in 2023[18] Tax and Non-GAAP Adjustments - Adjusted effective income tax rate for the three months ended June 30, 2024, was 25.0%, compared to 23.8% in the same period in 2023[29] - Total non-GAAP adjustments decreased to 9.2% of total revenue in 2024 from 10.3% in 2023[31]

COMPARABLE SALES INCREASE 11% DRIVEN BY OVER 8% TRANSACTION GROWTH AS MARGINS EXPANDNEWPORT BEACH, Calif., July 24, 2024 /PRNewswire/ -- Chipotle Mexican Grill, Inc. (NYSE: CMG) today reported financial results for its second quarter ended June 30, 2024.Second quarter highlights, year over year: Total revenue increased 18.2% to $3.0 billionComparable restaurant sales increased 11.1%Operating margin was 19.7%, an increase from 17.2%Restaurant level operating margin was 28.9%1, an increase of 140 basis points ...

Chipotle's stock is priced to perfection.Chipotle (CMG -1.12%) reports earnings after the market closes today, and investors will be watching the company's growth and margins. What makes this a particularly important quarter is Chipotle's valuation, which is off the charts. Travis Hoium covers the risk in the video below.*Stock prices used were end-of-day prices of July 24, 2024. The video was published on July 24, 2024. ...

These growth stocks look poised to rebound.It would be nice if stocks only went straight up, as that would make investing a lot easier. However, even growth stocks will fall in price from their highs. These stock dips, though, can often be good opportunities to scoop up a stock at a more attractive price.Let's look at two growth stocks down 20% or more that investors can consider buying.1. Chipotle Mexican GrillChipotle Mexican Grill (CMG -1.12%) has been one of the best-performing restaurant stocks over th ...

Chipotle Mexican Grill logo is seen in Manhattan, New York, United States of America, on July 6th, ... [+] 2024. (Photo by Beata Zawrzel/NurPhoto via Getty Images)NurPhoto via Getty ImagesChipotle Mexican Grill stock (NYSE: CMG), a fast-casual restaurant chain that focuses on fresh and organic ingredients in burritos, salads, and more, is scheduled to report its fiscal second-quarter results on Wednesday, July 24. We expect CMG’s stock to trade higher with revenues and earnings beating the expectations in i ...

In its first earnings report since a historic 50-1 stock split last month, Chipotle Mexican Grill  (CMG)  will report Q2 results on Wednesday, July 24.Wall Street and of course retail investors will be scoping the retail restaurant giant’s Q2 report with its stock trading at a much more affordable price tag of $52 compared to over $3,000 pre-split. Seeing as the underlying fundamentals of a company don’t change when its stock splits, let’s see if it’s time to buy CMG as earnings approach.Q2 Expectations for ...