Chipotle: Q1 Earnings Snapshot
By AP News
Published - Apr 24, 2024, 04:18 PM ET
Last Updated - Apr 24, 2024, 04:18 PM EDT
NEWPORT BEACH, Calif. (AP) — NEWPORT BEACH, Calif. (AP) — Chipotle Mexican Grill Inc. (CMG) on Wednesday reported first-quarter earnings of $359.3 million.
On a per-share basis, the Newport Beach, California-based company said it had profit of $13.01. Earnings, adjusted for one-time gains and costs, came to $13.37 per share.
The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $11.63 per share.
The Mexican food chain posted revenue of $2.7 billion in the period, which also topped Street forecasts. Twelve analysts surveyed by Zacks expected $2.67 billion.
