Chipotle Mexican Grill beat earnings and revenue expectations, shares rose over 10%

From CNBC: 2024-07-24 16:18:50

Chipotle Mexican Grill reported earnings and revenue that beat expectations, with shares rising over 10% in extended trading. Second-quarter net income was $455.7 million, or 33 cents per share, up from $341.8 million, or 25 cents per share. Sales climbed 18.2% to $2.97 billion, fueled by a 11.1% increase in same-store sales.

Despite social media backlash over portion sizes, Chipotle saw an 8.7% increase in traffic to its restaurants. The chain brought back chicken al pastor as a limited-time menu item, and more customers have been ordering barbacoa. Chipotle opened 52 new company-owned locations and reiterated its full-year outlook for same-store sales growth.



Read more at CNBC:: Chipotle Mexican Grill (CMG) Q2 2024 earnings