Chipotle Mexican Grill reports mixed Q3 earnings with lower earnings despite higher traffic

From CNBC: 2024-10-29 16:31:32

Chipotle Mexican Grill reported mixed quarterly results with higher traffic but lower earnings. Earnings per share were 27 cents adjusted, below the expected 25 cents. Revenue was $2.79 billion, missing the $2.82 billion estimate. Net sales rose 13% to $2.79 billion, with same-store sales up 6%. Digital sales accounted for 34% of revenue. Chipotle plans to open 315-345 new locations in 2025, with over 80% featuring a Chipotlane. CEO Brian Niccol departed to lead Starbucks, with COO Scott Boatwright serving as interim CEO.



Read more at CNBC:: Chipotle Mexican Grill (CMG) Q3 2024 earnings