Stocks continue to rise and fall based on the earnings reports of the companies behind the securities. It makes for a dramatic time in the market with lots of overreactions occurring both good and bad. For many companies, their earnings report for the final quarter of last year is proving to be a redemption story. For others, it continues a string of outperformance that analysts and investors have come to expect. Investors who take a position in a company that has just crushed its earnings print and whose s ...

Chipotle Mexican Grill (CMG -0.35%) is showing no signs of slowing down. The Tex-Mex fast-casual pioneer reported $2.5 billion of revenue and $10.36 of adjusted earnings per share in the last three months of 2023, both figures beat Wall Street estimates. Shares have moved higher since the announcement.In the last year, this top restaurant stock has soared 64% (as of Feb. 9), a gain that exceeds the Nasdaq Composite index. And if we zoom out and look at the past five years, Chipotle's outperformance is jaw-d ...

If you’re on the market for blue chip stocks to buy, look no further. Investors can find a good blend of stability and growth by searching for blue-chip stock ideas. These equities can keep up with the market and outperform it in some cases. Blue-chip stocks also bode well for long-term investors. They are often household names that continue to gain market share each year. Many of these companies make acquisitions and invest in new assets to increase shareholder value.Investors can choose from many blue-chi ...

Chipotle Mexican Grill (CMG 0.68%) reported a blowout quarter in the last three months of 2023. Revenue of $2.5 billion and adjusted earnings per share of $10.36 both beat Wall Street expectations. Within 24 hours following the announcement, shares were up about 8%. In the past five years, this magnificent restaurant stock has skyrocketed 406%, crushing the S&P 500 by a wide margin. Here's why investors are buying Chipotle hand over fist right now.Strong business momentumCompared to 2022's fourth quarter, t ...

Chipotle Mexican Grill (CMG 0.68%) has been one of the more stellar investments in the restaurant space over the past decade. It launched its initial public offering (IPO) 18 years ago at $22 per share, and as it expanded and deepened its footprint in the U.S., it has grown to nearly 3,400 locations across the country.That impressive expansion has resulted in gains of more than 120-fold for shareholders who bought at the IPO and held. Despite that stunning growth, the restaurant stock will likely continue m ...

On Feb. 7, shares of restaurant chain Chipotle Mexican Grill (CMG -1.74%) soared to new all-time highs. The company just reported completed financial results for 2023. And in response, the market was willing to push the stock past a market capitalization of $73 billion.Much could be said about business for Chipotle in 2023 -- it certainly smashed Wall Street's expectations. Here are two things that contributed to its success in its most recent quarter.The one profit metric that just keeps going upA restaura ...

Chipotle customers in California should prepare for “significant” price hikes after the state recently approved minimum wage increases for fast food workers, one of the company’s top executives told shareholders this week.Jack Hartung, Chipotle’s chief financial and administrative officer, told investors on an earnings call on Tuesday that the price hikes are necessary to keep up with increasing labor costs.“We know we have to take something as a significant increase when you talk about a 20%-ish increase ...

Fast-casual restaurant chain Chipotle Mexican Grill (CMG 8.70%) just reported financial results for 2023, showing that it now has 3,437 locations, 271 of which opened in the last year. The chain is big enough to qualify as one of the top 20 largest chains in the U.S. by locations. But it wants to rise further up the restaurant ranks.In an interview with CNBC's Jim Cramer on Tuesday, Chipotle CEO Brian Niccol said the company plans to more than double its store count, reaching 7,000 locations at some point. ...

Chipotle Mexican Grill, Inc. (CMG) released fourth-quarter 2023 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis. Earnings surpassed the consensus estimate for the fourth consecutive quarter.Following the earnings release, shares of the company rose 2.9% during the after-hours trading session on Feb 6.Q4 Earnings & Revenue DiscussionIn the quarter under review, Chipotle reported adjusted earnings per share (EPS) of $10.36, ...

Financial Position and Assets - Cash and cash equivalents increased to $560.6 million as of December 31, 2023, compared to $384.0 million in 2022[199] - Total current assets rose to $1.62 billion in 2023 from $1.18 billion in 2022[199] - Long-term investments grew to $564.5 million in 2023, up from $388.1 million in 2022[199] - The company holds $1.9 billion in cash, cash equivalents, and investments as of December 31, 2023[182] - Leasehold improvements, property, and equipment increased to $2.17 billion in 2023 from $1.95 billion in 2022[199] - Operating lease assets grew to $3.58 billion in 2023, up from $3.30 billion in 2022[199] - Prepaid expenses and other current assets increased from $86,412 in 2022 to $117,462 in 2023[256] - Leasehold improvements, property and equipment, net increased from $1,951,147 in 2022 to $2,170,038 in 2023[260] - Cash and cash equivalents increased from $1,254,114 in 2022 to $1,652,564 in 2023[269] - Equity method investments decreased from $11,697 in 2022 to $8,896 in 2023[276] Liabilities and Equity - Total liabilities increased to $4.98 billion in 2023 from $4.56 billion in 2022[199] - Shareholders' equity expanded to $3.06 billion in 2023, compared to $2.37 billion in 2022[199] - Retained earnings rose to $6.06 billion in 2023, compared to $4.83 billion in 2022[199] - Accrued payroll and benefits increased from $170,456 in 2022 to $227,537 in 2023[257] - Chipotle Rewards liability, ending balance increased from $38,057 in 2022 to $44,750 in 2023[264] - Deferred compensation obligations totaled $27,178 as of December 31, 2023, with scheduled payments of $5,339 in 2024 and $9,319 thereafter[307][311] Revenue and Profitability - Total revenue for 2023 reached $9.87 billion, a 14.3% increase from $8.63 billion in 2022[201] - Net income for 2023 was $1.23 billion, up 36.7% from $899.1 million in 2022[201] - Diluted earnings per share (EPS) for 2023 was $44.34, a 38.4% increase from $32.04 in 2022[201] - Food and beverage revenue grew to $9.80 billion in 2023, a 14.6% increase from $8.56 billion in 2022[201] - Income before income taxes increased from $1,181,531 in 2022 to $1,620,506 in 2023[280] - Net income for 2023 was $1,228,737, with basic earnings per share of $44.59 and diluted earnings per share of $44.34[318] Expenses and Costs - Labor costs increased to $2.44 billion in 2023, up 11.1% from $2.20 billion in 2022[201] - Depreciation and amortization expenses rose to $319.4 million in 2023, an 11.4% increase from $286.8 million in 2022[201] - Stock-based compensation expense for 2023 was $126.7 million, with approximately 114,000 stock awards subject to performance conditions[193] - Stock-based compensation expense increased to $124.0 million in 2023, up 26.5% from $98.0 million in 2022[206] - Advertising, marketing, and promotional costs totaled $264.085 million in 2023, $250.673 million in 2022, and $222.091 million in 2021[248] - Stock-based compensation expense is recognized on a straight-line basis, with performance-based awards vesting over a three-year performance and service period[250] - Pre-opening costs for restaurants, including rent, wages, and food, are expensed as incurred prior to opening[251] - Operating lease cost for 2023 was $436,313, with total lease payments of $5,743,452 as of December 31, 2023[314][316] Taxes and Tax-Related Items - The effective income tax rate for 2023 was 24.2%, up from 23.9% in 2022, primarily due to a decrease in excess tax benefits related to option exercises and equity vesting[282] - The provision for income taxes in 2023 was $391,769, compared to $282,430 in 2022 and $159,779 in 2021[282] - Gross foreign net operating losses (NOLs) were $149,891 as of December 31, 2023, up from $114,727 in 2022, and can be carried forward indefinitely[285] - Gross state NOLs were $62,492 as of December 31, 2023, down from $73,327 in 2022, and expire over varying intervals[285] - The company had gross valuation allowances against certain foreign deferred tax assets of $160,607 as of December 31, 2023, up from $124,609 in 2022[286] - Interest expense related to uncertain tax positions was $1,541 in 2023, compared to $384 in 2022 and $180 in 2021[287] Stock-Based Compensation and Equity - Stock-based compensation expense for 2023 was $126,686, up from $99,821 in 2022 and $178,703 in 2021[290] - The company had $424,107 authorized for repurchasing shares of common stock as of December 31, 2023, including a $200,000 additional authorization approved in December 2023[292] - The total intrinsic value of SOSARs exercised in 2023 was $142,830, compared to $77,124 in 2022 and $498,399 in 2021[297] - Unrecognized stock-based compensation expense for non-vested PSU stock awards was $69,610 as of December 31, 2023, expected to be recognized over a weighted-average period of 1.9 years[302] - Performance share awards range from 0% to 300% of the target based on growth in comparable restaurant sales and average restaurant margin over a three-year period starting January 1, 2021[305] - The 2018 Performance Share Awards modification resulted in incremental compensation expense of $71,441, with $7,255 recognized in 2022[307] - Employee Stock Purchase Plan (ESPP) allows employees to purchase common stock at 92.5% of the lower fair market value, with 250 shares authorized and 248 available as of December 31, 2023[309] - 401(k) Plan matching contributions totaled $13,821 in 2023, $12,923 in 2022, and $10,527 in 2021[310] Leases and Operating Costs - Operating lease assets and liabilities are recognized at the lease commencement date, with lease liabilities representing the present value of unpaid lease payments[227] - Total lease costs include fixed operating lease costs, variable lease costs, and short-term lease costs, with variable costs based on a percentage of gross sales in excess of specified levels[228] - Operating lease cost for 2023 was $436,313, with total lease payments of $5,743,452 as of December 31, 2023[314][316] Investments and Other Financial Activities - Capitalized internal costs for restaurant acquisition, development, and construction were $15.385 million in 2023, $12.695 million in 2022, and $10.870 million in 2021[223] - The company has a $500,000 revolving credit facility with JPMorgan Chase Bank, bearing interest at SOFR plus 1.475%, with no outstanding borrowings as of December 31, 2023[322] - The company owns 10.2% of Tractor's common stock, with purchases from Tractor totaling $43,555 in 2023[324] - Investment in Vebu Inc. resulted in purchases of $991 in 2023, with the company maintaining significant influence over Vebu[324] Impairment and Asset Valuation - Long-lived assets are reviewed for impairment, with impairment charges representing the excess of an asset's carrying amount over its estimated fair value[253] - Basic earnings per share is calculated by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during each period[254] Credit and Allowances - The allowance for credit losses increased to $2.74 million in 2023, up 132.4% from $1.18 million in 2022[215] - Revenue recognized from gift card liability balance at the beginning of the year increased from $59,175 in 2022 to $61,389 in 2023[263]