Pershing Square (Bill Ackman) discloses updated portfolio positions in 13F filing

Highlights from Q2 2023 filing as compared to Q1 2023:

• Increased positions in: GOOG (to ~9.38 mln shares from ~8.07 mln shares), HHH (to ~16.57 mln from ~15.98 mln), HLT (to ~9.33 mln from ~9.3 mln)
• Maintained positions in: GOOGL (~2.19 mln shares)
• Decreased positions in: LOW (to ~7.47 mln shares from ~10.04 mln shares), QSR (to ~23.35 mln from ~24.19 mln), CMG (to ~0.95 mln from ~1.03 mln), CP (to ~15.1 mln from ~15.24 mln)

-==Chipotle Mexican Grill (CMG) reported earnings on Wed 21 Oct 2020 (a/h)

 

Chipotle Mexican Grill beats by $0.32, reports revs in-line, comps +8.3%

Reports Q3 (Sep) earnings of $3.76 per share, excluding non-recurring items, $0.32 better than the S&P Capital IQ Consensus of $3.44; revenues rose 14.1% year/year to $1.60 bln vs the $1.59 bln S&P Capital IQ Consensus.

• Comparable restaurant sales increased +8.3%.
• Digital sales grew 202.5% yr/yr to $776.4 mln and represented 48.8% of sales. About half of the digital sales were via delivery, benefiting from expanded partnerships, with the remainder coming from order ahead transactions as guests better understand the value offered by this channel, as well as the convenience of more Chipotlanes.

=Chipotle Mexican Grill (CMG) reported earnings on Wed 6 Feb 2019 (a/h)

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 

Earnings this week : Feb. 4 - 8, 2019 (wk 6)

Earnings expected this week:

Monday (Feb 4)

• Morning: ALXN CLX ON SYY
• Afternoon: AVB FN GILD GOOG GLUU HIG LM STX

Tuesday (Feb 5)

• Morning: ADM AME ARMK BDX CHD CNC EL EMR ENR INGR IT LII LITE RL 
• Afternoon: ALL APC APU CB CERN DATA DIS DOX  EA MANH  MCHP MODN  MTSI MYGN MXL OI  PAA  PAYC SAVE SCSC  SFLY   SNAP SWKS TCS  TENB ULTI USNA VNOM VRTX ZEN

Wednesday (Feb 6)

• Morning:  ABG BSX BCO CSTE CPRI CTSH CMI ELAN FDC FDV GM HUM LLY  NYT REGN  SPOT TRVG  TTWO 
• Afternoon: ACLS AEL AHL AINV AOSL BLKB CCK CCMP CDAY CENT CINF CMG CSGS CUB CUZ DHT ECHO EGP ELY ENS ENSG FEYE FLO FLT FORM FTNT GBDC GPRO HQY ICHR IRBT KNL LCI LNC MC MET MTCH MTRX NEWR NOV NTGR NTR NXPI ORLY OSUR PAHC PCTY PRU PSDO PSEC RGLD RYN SONO TRMB TTGT TTMI TWO UHAL VVV WERN ZNGA

Wed pm/Thur am (vol) https://finviz.com/screener.ashx?v=211&t=ACLS,AEL,AHL,AINV,AOSL,BLKB,CCK,CCMP,CDAY,CENT,CINF,CMG,CSGS,CUB,CUZ,DHT,ECHO,EGP,ELY,ENS,ENSG,FEYE,FLO,FLT,FORM,FTNT,GBDC,GPRO,HQY,ICHR,IRBT,KNL,LCI,LNC,MC,MET,MTCH,MTRX,NEWR,NOV,NTGR,NTR,NXPI,ORLY,OSUR,PAHC,PCTY,PRU,PSDO,PSEC,RGLD,RYN,SONO,TRMB,TTGT,TTMI,TWO,UHAL,VVV,WERN,ZNGA,ADNT,ADS,AMAG,ANDX,ARW,BCE,BR,BSIG,BV,CAH,CDW,CEIX,CNHI,COR,DNKN,DTE,EIGI,EPC,FCAU,GRA,GRUB,HAIN,HBI,ICE,K,LABL,LCII,LH,MAC,MAS,MD,MMS,MPC,MPLX,MPW,ODFL,PAG,PBH,PENN,PM,PRLB,PTEN,SEE,SNA,SNY,SPB,SPGI,TGI,TKR,TMUS,TPR,TSN,TWTR,VIRT,VSTO,WLTW,WMS,WWE,YUM&ta=0&o=-volume

Thursday (Feb 7)

• Morning: ADNT ADS AMAG ANDX ARW BCE BR BSIG BV CAH CDW CEIX CNHI COR DNKN DTE EIGI EPC FCAU GRA GRUB HAIN HBI ICE K LABL LCII LH MAC MAS MD MMS MPC MPLX MPW ODFL PAG PBH PENN PM PRLB PTEN SEE SNA SNY SPB SPGI TGI TKR TMUS TPR TSN TWTR VIRT VSTO WLTW WMS WWE YUM
• Afternoon: ATEN ATGE ALNY ASYS ANGI MT ATHN BECN BHE BKH CARB CSL CBL CCS COLM OFC DXC EGAN EHC ESE EEFT EXPE FISV FSCT FTV FET FWRD G HUBG IAC KN LGND MTW MCFT MAT MTD MOBL MHK MSI NCR UEPS NR NWSA NUAN OMCL CNXN PMT POWI PRI PRO QRVO QNST RPD RSG SGEN SKX SWI SYNA TDC TBI USX VRSN VVI VSAT VRTU VCRA WTS WU ZAYO 

Friday (Feb 8)

• Morning: ARNC AVA BPL CAE CBOE CLF COTY ESNT EXC GT GRC EAF HAS IMGN PCG PSX  PSXP RDN UNVR VTR 

-=Chipotle Mexican Grill (CMG) reported earnings on Wed 25 Apr 2018 (a/h)

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

=Chipotle Mexican Grill (CMG) reported earnings on Tue 6 Feb 2018 (a/h)

Chipotle Mexican Grill beats by $0.02, reports revs in-line, comps +0.9%

• Reports Q4 (Dec) earnings of $1.34 per share, $0.02 better than the Capital IQ Consensus of $1.32; rev +7.3% to $1.11 bln vs. $1.11 bln consensus.
• Comparable restaurant sales increased 0.9% for the quarter
• Restaurant level operating margin was 14.9%, an increase from 13.5%
• Food costs were 34.2% of revenue, a decrease of 110 basis points compared to the fourth quarter of 2016. The decrease was driven by the benefit of the menu price increases, cost savings initiatives related to paper and packaging products, and relief in avocado prices during the fourth quarter of 2017 compared to the fourth quarter of 2016.

2018 Outlook

• Comparable restaurant sales increases in the low single digits
• 130 - 150 new restaurant openings

Chipotle Mexican Grill On Call expects Q1 comps of 1-2% before impact of Chiptopia 

• says Q4 comp was driven by a higher average check
  • says average check benefited by about 200 bps from queso w/ this 200 bps continuing in January as guests are currently adding queso in ~10% of transactions
• will be increasing investments in restaurants
• Announces bonuses for all employees
• Says search for new CEO is 'well underway'; no update yet 
• January 2018 comps was +3.47%, had one extrad trading day that contributed about 240 bps and will acc/t for just under 1% in the comp for Q1
• Says weather normalized comps that had been running at 2.5-3.5% during the first 3 weeks of January
• Expects comps of 1-2% before impact of Chiptopia
• Expects FY comp guidance for 2018 ion the low single digits w lower sales comps expects in the 1H of yea due to tougher comparisons then improvement as comparisons ease
• expects Q1 margin in the 16-16.5% range

-=Chipotle Mexican Grill (CMG) reported Q1 earnings on Tue 26 Apr 2016 (a/h)

Chipotle Mexican Grill beats by $0.17, misses on revs :

• Reports Q1 (Mar) loss of $0.88 per share, $0.17 better than the Capital IQ Consensus of ($1.05); revenues fell 23.4% year/year to $834.5 mln vs the $863.24 mln Capital IQ Consensus.
• Warned on March 15: Lowered EPS to ($1.00) or worse from break even; updated comps through 2nd week of March.
  • The decrease in revenue was driven by a 29.7% decrease in comparable restaurant sales (estimates near down 28.5%), partially offset by sales from new restaurant openings. Comparable restaurant sales declined primarily as a result of a decrease in the number of transactions in our restaurants, and to a lesser extent by a decline in average check, including an impact from sales promotions.
• Comparable restaurant sales decreased 29.7%, Comparable restaurant transactions decreased 21.1%.
• Restaurant level operating margin was 6.8%, a decrease from 27.5%. The decrease was primarily driven by unfavorable sales leverage, and to a lesser extent by higher than usual marketing and promotional costs, and food testing and waste costs.
• For 2016, management expects the following:
  • 220 - 235 new restaurant openings
  • An effective full year tax rate of approximately 38.4% 

Chipotle vs McDonalds vs S&P500

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Chipotle Mexican Grill (CMG)

Chipotle Mexican Grill (CMG) reports earnings on 2/3/15 a/h

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Chipotle Mexican Grill (CMG) reported earnings on 19 July 2012

Chipotle Mexican Grill (CMG, $312.31, -$91.55, -22.67%) reported second-quarter results below expectations and said its customer traffic growth has slowed recently, raising the possibility that some people are trading down to less pricey fast-food restaurants and stoking concerns for fellow fast-casual restaurant operators like Panera Bread Co. (PNRA, $142.41, -$8.28, -5.49%).

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