4-24-19 Chipotle Mexican Grill beats by $0.37, beats on revs
4-24-19 Chipotle Mexican Grill beats by $0.37, beats on revs
• Reports Q1 (Mar) earnings of $3.40 per share, $0.37 better than the S&P Capital IQ Consensus of $3.03; revenues rose 13.9% year/year to $1.31 bln vs the $1.27 bln S&P Capital IQ Consensus. Comparable restaurant sales increased 9.9%, net of 30 bps from loyalty deferral, and included 5.8% of comparable restaurant transaction growth and 2% in mix contribution
• Digital sales grew 100.7% and accounted for 15.7% of sales for the quarter
• Restaurant level operating margin was 21.0%, an increase from 19.5%
Outlook
• Mid to high single digit comparable restaurant sales growth, up from the prior mid-single digit growth expectation
• continues to expect 140 to 155 new restaurant openings
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