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Chipotle: 2Q Earnings Snapshot

July 23, 2019

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CMG at https://www.zacks.com/ap/CMG

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