3 Takeaways From Chipotle's Q3 Earnings
On Oct. 21, Chipotle Mexican Grill (NYSE: CMG) reported third-quarter adjusted earnings per share of $3.76 (above the consensus estimate of $3.47) on revenue of $1.6 billion (in line with the consensus estimate of $1.59 billion). Comparable-store sales increased by 8.3%, with August having the highest revenue in the quarter. Digital sales were particularly strong, up 202.5% year over year, as consumers flocked to its delivery offerings and drive-thru digital order pick-up lanes, known as Chipotlanes. From mid-September, comparable restaurant sales increased in the mid-single digits, and this growth continued into October.
On the surface, a solid earnings report for the fast-casual restaurant chain. But does the company hold up as well when looking closer at the details in the report? Here are three takeaways from the quarter.
Image source: Chipotle Mexican Grill.
Source Fool.com
