A customer holds a bag of food outside a Chipotle restaurant in New York on January 12, 2024.
Angus Mordant Bloomberg Getty Images
Chipotle Mexican Grill is set to report third-quarter earnings after the bell on Friday.
Here’s what Wall Street analysts surveyed by LSEG expect the company to report:
- Earnings per share: 25 cents expected
- Revenue: $2.82 billion expected
The report will be the company’s first since the departure of CEO Brian Niccol, who left the burrito chain in late August to lead it. Starbucks‘retreat. Chief Operating Officer Scott Boatwright is now Chipotle’s interim chief executive.
Despite the unexpected executive shuffle, Wall Street believes Chipotle can maintain its winning streak — at least in the near term. Analysts expect the company to report same-store sales growth of 6.3%, according to StreetAccount estimates.
Unlike its restaurant peers, Chipotle has seen traffic to its restaurants grow over the past few years. Even the social media-driven backlash over the size of the burrito bowl never slowed the chain’s growth, though CEO Niccol vowed to reaffirm the restaurant’s growing share.
For the full year, Chipotle expects same-store sales to grow by a mid-to-high percentage. Chipotle also expects to open between 285 and 315 new restaurants this year.
The company’s stock has risen 32% this year, giving Chipotle a market capitalization of $82.91 billion.
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