A Chipotle restaurant in New York on July 3, 2023.
Jeenah Moon | Bloomberg |
Chipotle Mexican Grill is predicted to announce its second-quarter results on Wednesday after the market closes.
Here is what Wall Street analysts surveyed by LSEG expect from the corporate:
- Earnings per share: 32 cents expected
- Revenue: $2.94 billion expected
In recent months, the burrito chain has faced criticism on social media from customers who claim the dimensions of their bowls has shrunk, although CEO Brian Niccol denies this. However, these complaints are unlikely to interrupt Chipotle’s winning streak, after the corporate has seen customer numbers increase for several quarters while the remaining of the industry struggles to draw diners.
Wall Street analysts expect Chipotle’s second-quarter sales to rise 9.2 percent, based on estimates from StreetAccount. Niccol cites the chain’s perception of value amongst restaurant guests as one reason for the chain’s strong performance in recent quarters.
For the total yr, Chipotle expects sales growth in its existing stores within the mid to high single-digit percentage range.
Chipotle’s shares have risen 24 percent this yr, giving it a market capitalization of $72.82 billion. A month ago, the corporate conducted a 50-for-1 stock split, considered one of the biggest moves within the history of the New York Stock Exchange.
