Chipotle Is a Forever Stock. Q3 Earnings Show Why.
Chipotle Mexican Grill (NYSE: CMG) has been a big winner during the pandemic, but its third-quarter earnings report made clear why the fast-casual restaurant chain is one of the best in the industry.
The company set new records in quarterly revenue and profits, posting 15.1% comparable sales growth, and 24.7% growth on a two-year stacked basis. Overall revenue rose 21.9% year over year to $1.95 billion, edging out analysts' estimate of $1.94 billion. On the bottom line, adjusted earnings per share for the quarter nearly doubled from $3.76 in 2020 to $7.02, ahead of the consensus of $6.32. Restaurant-level operating margin increased to 23.5%, from 19.5% in 2020.
Image source: Chipotle.
Source Fool.com
