An individual sporting a protecting masks and gloves exits a Chipotle restaurant in San Francisco, California, April 19, 2021.
David Paul Morris | Bloomberg | Getty Pictures
Chipotle Mexican Grill is anticipated to report its first-quarter earnings after the bell on Wednesday.
Here is what Wall Avenue analysts surveyed by Refinitiv expect:
- Earnings per share: $4.89 anticipated
- Income: $1.74 billion anticipated
This marks the primary quarter that Chipotle will likely be dealing with comparisons to its enterprise underneath the stress of lockdowns. After final yr kicked off with two months of double-digit same-store gross sales development, the burrito chain noticed its March same-store gross sales plunge 16% as states briefly banned in-person eating and shoppers stayed residence.
Since then, Chipotle’s gross sales have made a gentle comeback, due to on-line and supply orders. When saying its fourth-quarter outcomes, the corporate stated that it is anticipating same-store gross sales development within the mid-to-high teenagers through the first quarter, assuming that the pandemic did not worsen. January same-store gross sales rose 11%, fueled by the launch of cauliflower rice, which prices an additional $2 per order.
The rice substitute is not the one new menu merchandise that Chipotle launched within the first quarter. The corporate launched quesadillas as a digital-only choice in mid-March.
Shares of the corporate have practically doubled in worth over the past yr, giving it a market worth of $42.8 billion.