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Chipotle Rises on Strong Q2 Report

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Chipotle Rises on Strong Q2 Report

Chipotle Mexican Grill (NYSE: CMG) released its fiscal second-quarter earnings results after the closing bell on Thursday. The company's earnings per share and revenue in the period both exceeded Wall Street analysts' consensus estimates. In pre-market trade, Chipotle was last up a little less than 5 percent to $395.

Management Commentary

“This month marks Chipotle's 20th anniversary. What started out as one restaurant serving burritos and tacos, has evolved into a national brand which is changing the way people think about and eat fast food. Our vision has connected with our loyal customers, who visit Chipotle to enjoy great tasting food made from premium ingredients. It's rewarding to look back and see what we've accomplished, but it's even more inspiring to think about what lies ahead over the next twenty years.” said Steve Ells, Founder, Chairman and co-CEO of Chipotle.

Q2 Financial Results

Chipotle reported second-quarter net income of $87.85 million or $2.82 per share, compared to $81.68 million or $2.56 per share, in last year's corresponding period. This came in ahead of Wall Street consensus EPS estimates of $2.81 by a penny.

Revenue in the quarter rose to $816.79 million from $690.93 million last year. This also came in ahead of analysts' consensus revenue estimates of $802.78 million.

Posted-In: Steve EllsEarnings News Guidance After-Hours Center Movers Best of Benzinga

 

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