Chipotle Mexican Grill beats by $0.57, reports revs in-line; comps +2.2% vs 1.3% estimate
- Reports Q1 (Mar) earnings of $2.13 per share, $0.57 better thanthe Capital IQ Consensus of $1.56; revenues rose 7.4% year/year to $1.15 bln vs the $1.15 bln Capital IQ Consensus
- Comparable restaurant sales increased 2.2% (net of 50 basis points related to Chiptopia revenue deferral from 2017)
- Restaurant level operating margin increased to 19.5% from 17.7%
- Board of Directors has also approved the investment of up to an additional $100 million, exclusive of commissions, to repurchase shares of our common stock.
Maintains FY 18 guidance (listed below)
- Comparable restaurant sales increases in the low-single digits
- 130 to 150 new restaurant openings
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