Chipotle said that it has been consistently offering "generous portions" in an effort to satisfy the customers who complained on social media that they were getting skimped on the size of their servings.  Interim CEO Scott Boatwright told analysts on Tuesday that proof is on the company's social media platforms, where he said people are "posting big burritos, big bowls and really excited about portioning they're getting in the Chipotle brand." Boatwright said that it's a "reverse of what we saw earlier in t ...

Chipotle is growing like crazy, so why is the stock down?Expectations are so high for Chipotle (CMG -7.87%) that even an incredible quarter isn't met with a positive reaction from the market. In the video below, Travis Hoium shows why good isn't good enough.*Stock prices used were end-of-day prices of Oct. 30, 2024. The video was published on Oct. 30, 2024. ...

Chipotle Mexican Grill TodayCMGChipotle Mexican Grill$55.76 -4.73 (-7.82%) 52-Week Range$38.01▼$69.26P/E Ratio54.62Price Target$64.47Add to WatchlistThe market for Chipotle Mexican Grill NYSE: CMG stock served up a nice dip, and savvy investors are buying. Lackluster results and guidance drove the dip in price action, but the move is entirely sentiment-driven; the results failed to impress relative to the consensus estimates but are still excellent, driving value gains for investors.  The initial takeaway i ...

Chipotle says it's tried to ensure "consistent and generous portions" after customer complaints.The move and unusual price fluctuations for avocados have hit the chain's profitability.Execs say the brand's focus on offering value has had a positive response. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized ...

Is this stellar business facing troubling headwinds? Shares of popular restaurant chain Chipotle Mexican Grill (CMG -6.61%) fell on Wednesday after the company reported financial results for the third quarter of 2024. While financial results were strong, analysts seemed skeptical about the business looking forward. As of 11:30 a.m. ET, Chipotle stock was down almost 7%. A good quarter but investors are worried In Q3, Chipotle's business was booming. Same-store sales jumped by 6% year over year, helped by tr ...

Shares of Chipotle Mexican Grill, Inc. (CMG) declined 5.3% in the after-hour trading session yesterday after the company reported mixed third-quarter results. The company's earnings beat the Zacks Consensus Estimate for the seventh consecutive quarter but revenues missed the same after beating in the preceding four quarters. However, both top and bottom lines increased year over year. The company benefited from new restaurant openings and a rise in comparable restaurant sales. Higher transactions and an inc ...

About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and ...

Chipotle Mexican Grill, Inc. (NYSE:CMG) Q3 2024 Earnings Call Transcript October 29, 2024 4:30 PM ET Company Participants Cindy Olsen - Head of Investor Relations and Strategy Scott Boatwright - Interim Chief Executive Officer Adam Rymer - Chief Financial Officer Jack Hartung - President and Chief Strategy Officer Conference Call Participants Andrew Charles - TD Cowan David Tarantino - Baird Sara Senatore - Bank of America David Palmer - Evercore ISI Christine Zhao - Goldman Sachs Brian Harbour - Morgan Sta ...

Financial Performance - Total revenue for the three months ended September 30, 2024, was $2,793,576, an increase of 13.0% compared to $2,471,948 for the same period in 2023[6] - Net income for the nine months ended September 30, 2024, reached $1,202,346, up 27.0% from $946,651 in the prior year[6] - Earnings per share (EPS) for the three months ended September 30, 2024, was $0.28, compared to $0.23 for the same period in 2023, reflecting a 21.7% increase[6] - Comprehensive income for the three months ended September 30, 2024, was $388,462, compared to $312,089 for the same period in 2023, indicating a 24.4% increase[6] - Net income for the three months ended September 30, 2024, was $387,388 million, compared to $313,217 million for the same period in 2023, reflecting a growth of approximately 23.7%[54] - Total revenue for the nine months ended September 30, 2024, was $8,468,543, up 15.2% from $7,355,329 in the same period last year[6] Operating Costs - Restaurant operating costs for the three months ended September 30, 2024, totaled $2,320,320, a rise of 11.7% from $2,076,998 in the prior year[6] - Food, beverage, and packaging costs rose to $855.5 million for the three months ended September 30, 2024, a 16.5% increase from $734.2 million in the same period in 2023[76] - Labor costs for the three months ended September 30, 2024, were $696.8 million, reflecting a 13.1% increase from $616.3 million in the same period in 2023[78] - Occupancy costs increased to $142.6 million for the three months ended September 30, 2024, a 12.9% rise from $126.3 million in the same period in 2023[80] - Other operating costs for the three months ended September 30, 2024, were $386.5 million, an 11.9% increase from $345.4 million in the same period in 2023[82] - General and administrative expenses decreased to $126.6 million for the three months ended September 30, 2024, down 20.6% from $159.5 million in the same period in 2023[84] Cash Flow and Investments - Operating cash flow for the nine months ended September 30, 2024, was $1,578,306, an increase from $1,518,018 in the prior year[12] - Cash provided by operating activities was $1.6 billion for the nine months ended September 30, 2024, compared to $1.5 billion for the same period in 2023, reflecting an increase due to higher net earnings[98] - Cash used in investing activities was $701.5 million for the nine months ended September 30, 2024, down from $794.0 million in the same period in 2023, primarily due to a decrease in investment purchases[99] - The company had a cash and marketable investments balance of $2.2 billion as of September 30, 2024, with $1,059.6 million available for share repurchases[94] Stock Repurchase and Equity - The company repurchased common stock totaling $662,605 during the nine months ended September 30, 2024, compared to $437,305 in the same period of 2023[12] - The company had $1,059,595 million authorized for share repurchases as of September 30, 2024, including $400,000 million and $500,000 million in additional authorizations approved in August and September 2024, respectively[41] - The company retired 507,166 shares of common stock during the second quarter of 2024, resulting in a reduction of $5,194,196 million in treasury stock[41] Restaurant Operations - As of September 30, 2024, Chipotle operated 3,615 restaurants, including 3,540 in the U.S. and 75 internationally[13] - The company opened 86 new company-operated restaurants in the third quarter of 2024, including 73 with a Chipotlane[66] - The company plans to open approximately 285 to 315 new company-operated restaurants in 2024 and 315 to 345 in 2025, with at least 80% expected to include a Chipotlane[66] - Average restaurant sales for the three months ended September 30, 2024, were $3.184 million, a 7.1% increase from $2.972 million in the same period of 2023[73] Tax and Compliance - Provision for income taxes for the nine months ended September 30, 2024, was $368,787, compared to $291,502 in the prior year, reflecting a 26.5% increase[6] - The effective income tax rate for the three months ended September 30, 2024, was 22.9%, down from 24.2% in the same period of 2023, primarily due to reductions in nondeductible expenses and the release of income tax reserves[49] - The company expects to adopt new accounting standards related to segment reporting and income tax disclosures in future filings, which may enhance financial transparency[16] Other Financial Metrics - The company recognized a gain of $4,635 million related to the conversion of convertible notes into Series B Preferred Stock of Hyphen Technologies, Inc. during the three months ended September 30, 2024[38] - Interest and other income, net increased to $29.3 million for the three months ended September 30, 2024, up 59.3% from $18.4 million in the same period of 2023[88] - The company is exposed to commodity price risks, which could adversely affect results if ingredient prices increase and menu prices do not adjust accordingly[103]

For the quarter ended September 2024, Chipotle Mexican Grill (CMG) reported revenue of $2.79 billion, up 13% over the same period last year. EPS came in at $0.27, compared to $0.23 in the year-ago quarter.The reported revenue represents a surprise of -0.82% over the Zacks Consensus Estimate of $2.82 billion. With the consensus EPS estimate being $0.25, the EPS surprise was +8.00%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to dete ...