Chipotle Mexican Grill is set to release its earnings report. Here's what you can anticipate.
- Although there was a decrease in restaurant spending and criticism about the size of its burrito bowls, Chipotle is predicted to have a 9.2% increase in same-store sales for the second quarter.
- The strong sales of the chain in recent quarters can be attributed to its perceived value among customers, according to CEO Brian Niccol.
- For the first time in its history, the burrito chain has recently split its stock.
is expected to report its second-quarter earnings after the bell on Wednesday.
According to a survey of Wall Street analysts conducted by LSEG, this is what they anticipate the company will report.
- Earnings per share: 32 cents expected
- Revenue: $2.94 billion expected
Despite some customers' claims on social media that the size of their bowls has decreased, Chipotle's CEO, Brian Niccol, denies this. However, it is unlikely that these complaints will negatively impact Chipotle's winning streak, as the company has seen an increase in traffic for several quarters while the rest of the industry struggles to attract customers.
According to StreetAccount estimates, Wall Street analysts anticipate a 9.2% increase in Chipotle's same-store sales in the second quarter. Niccol has attributed the chain's recent success to its perceived value among customers.
Chipotle predicts a growth of mid- to high-single-digit percentage in same-store sales for the entire year.
The market value of Chipotle has increased by 24% this year, reaching $72.82 billion. This is due to the company's recent 50-for-1 stock split, one of the largest in the New York Stock Exchange's history.
Business News
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