Chipotle: 2Q Earnings Snapshot
NEWPORT BEACH, Calif. (AP) _ Chipotle Mexican Grill Inc. (CMG) on Tuesday reported second-quarter earnings of $91 million.
The Newport Beach, California-based company said it had net income of $3.22 per share. Earnings, adjusted for non-recurring costs, were $3.99 per share.
The results exceeded Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of $3.69 per share.
The Mexican food chain posted revenue of $1.43 billion in the period, also topping Street forecasts. Twelve analysts surveyed by Zacks expected $1.41 billion.
Chipotle shares have risen 71% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%. In the final minutes of trading on Tuesday, shares hit $739.82, an increase of 62% in the last 12 months.