Chipotle (CMG) Q3 Earnings: key Metrics vs. Estimates

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Amara

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Jul 18, 2024
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Chipotle Mexican Grill (CMG) reported its Q3 2024 financial results, showing revenue growth of 13% year-over-year, reaching $2.79 billion, though slightly below the Zacks Consensus Estimate of $2.82 billion (-0.82% surprise). The company’s EPS of $0.27 beat expectations, surpassing the estimated $0.25 by 8%.

Key Financial and Operational Metrics

Company-Operated Restaurants: 3,615 (vs. 3,606 estimated).
Comparable Restaurant Sales Growth: 6%, slightly below the estimated 6.4%.

New Restaurants Opened: 86, exceeding the estimate of 76.
Average Restaurant Sales (TTM): $3.18 million, below the $3.35 million estimate.
Revenues – Food & Beverage: $2.78 billion, up 13.1% year-over-year, but under the $2.81 billion estimate.
Revenues – Delivery Service: $15.54 million, down 2.3% from last year and below the $16.63 million estimate.

Stock Performance
Chipotle's stock has risen 5.2% over the past month, outperforming the S&P 500's 1.7% increase. The stock currently holds a Zacks Rank #3 (Hold), indicating it may perform in line with the market in the near term.