Business

Chipotle Mexican Grill (CMG) Q3 2021 earnings

A buyer carries a Chipotle Mexican Grill Inc. bag exterior a restaurant in San Francisco, California, U.S., on Monday, July 20, 2020.

David Paul Morris | Bloomberg | Getty Photographs

Chipotle Mexican Grill is anticipated to report its third-quarter earnings after the bell Thursday.

This is what Wall Road analysts surveyed by Refinitiv predict:

  • Earnings per share: $6.32 anticipated
  • Income: $1.94 billion anticipated

The burrito chain has bounced again comparatively rapidly from the pandemic, partially because of the energy of its on-line gross sales. Wall Road is anticipating the corporate to report same-store gross sales progress of 14%, in line with StreetAccount estimates. The corporate forecast same-store gross sales progress within the low-to-mid double digits. A 12 months in the past, Chipotle’s same-store gross sales climbed 8.3%.

The limited-time addition of smoked brisket to the menu possible helped gross sales, though the delta variant could have saved some clients at residence. Final quarter, executives mentioned that dine-in clients have been returning, however these customers may need switched again to takeout and supply as new Covid-19 instances rose in elements of the nation.

Buyers may even be watching to see if Chipotle is seeing greater meals prices or experiencing labor challenges, like the remainder of the trade. Domino’s Pizza mentioned the labor crunch hit its U.S. same-store gross sales, partially as a result of some areas shortened their hours. Chili’s mum or dad Brinker International mentioned the surge of new Covid-19 cases in August exacerbated those issues for the company, hitting its margins onerous.

Chipotle has already raised costs this 12 months to account for a hike in employee pay, though CFO Jack Hartung warned analysts last quarter that meals prices could be greater this quarter.

Shares of Chipotle have risen 33% this 12 months, giving it a market worth of $51.87 billion.

https://www.cnbc.com/2021/10/21/chipotle-mexican-grill-cmg-q3-2021-earnings-.html | Chipotle Mexican Grill (CMG) Q3 2021 earnings

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