By Daniel Shvartsman
Investing.com – Chipotle Mexican Grill (NYSE:) shares rose 6.6% in quick post-earnings buying and selling after the corporate reported a small beat in income and earnings properly forward of .
The restaurant operator reported $2B in income, forward of analyst estimates of $1.96B and 24% progress on final 12 months. Adjusted earnings had been $5.58/share, forward of $5.29 estimates. Diluted earnings had been $4.69/share.
The corporate additionally posted a formidable 15.2% comparable restaurant gross sales enhance. Digital gross sales solely grew 3.8%, whereas working margins grew to eight.1% from a previous 7.3%. Chipotle opened 78 new eating places within the quarter.
“2021 was an impressive 12 months for Chipotle, highlighting the energy and resiliency of our model.” mentioned Brian Niccol, Chairman and Chief Government Officer, Chipotle. “Shifting ahead, we imagine increasing entry and comfort by way of our digital ecosystem, accelerating unit progress, and persevering with to develop and help our restaurant workers, will put us in a a lot stronger aggressive place.”
The corporate’s 2022 outlook requires 235-250 new eating places opening (vs. 215 in 2021). They anticipate mid to excessive single digits comparable restaurant gross sales progress in Q1, and cited Omicron as weighing on comps in each December and in an “intensifying” method in January.
Shares could also be getting a cost from Chipotle’s longer-term steerage, which incorporates elevating the objective of potential Chipotle eating places in North America to 7,000 from a previous objective of 6,000. Chipotle is aiming for 8-10% annual unit progress as a part of this new steerage. The corporate at the moment has 2,966 eating places globally.
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