Chipotle Mexican Grill beats by $0.31, beats on revs; sees FY 19 comps up mid single digits
- Reports Q4 (Dec) earnings of $1.72 per share, $0.31 better than the S&P Capital IQ Consensus of $1.41.
- 6.1% increase in comparable restaurant sales and new restaurant openings. Comparable restaurant sales improved primarily as a result of an increase in average check which includes a 3.3% benefit from menu price increases. Comparable restaurant sales also improved due to a 2% increase in comparable restaurant transactions.
- Restaurant level operating margin was 17.0% in the quarter, an improvement from 14.9% in the fourth quarter of 2017.
- The improvement was driven primarily by leverage from the comparable restaurant sales increase. This was partially offset by increased marketing and promotional costs and wage inflation at the crew level.
- Board has approved the investment of up to an additional $100 million, exclusive of commissions, to repurchase shares of common stock
- For 2019, management is anticipating the following:
- Mid-single digit range comparable restaurant sales growth (vs 4.5% estimate)
- 140 to 155 new restaurant openings
No comments:
Post a Comment