A customer holds a bag of food outside a Chipotle restaurant on Friday, January 12, 2024 in New York, USA.
Angus Mordants | Bloomberg | Getty Images
Chipotle Mexican BBQ The company will report third-quarter earnings after the bell on Tuesday.
Here’s what Wall Street analysts surveyed by London Stock Exchange Group (LSEG) expected from the company’s report:
- Earnings per share: 25 cents expected
- Revenue: Estimated $2.82 billion
The report will be the company’s first since its inception CEO Brian Niccol steps downwho left the taco chain in late August to lead Starbucks‘ turn around. Chief Operating Officer Scott Boatwright currently serves as Chipotle’s interim CEO.
Despite the unexpected executive shuffle, Wall Street is confident Chipotle can keep its winning streak going — at least in the short term. Analysts expect the company’s same-store sales to grow 6.3%, according to StreetAccount estimates.
Unlike many of its restaurant peers, traffic at Chipotle restaurants has grown in recent quarters. Even a social media backlash over the size of its burrito bowls didn’t slow the chain’s growth, despite then-CEO Nico’s promise to reiterate big portion Go through the restaurant.
Chipotle expects full-year same-store sales to grow by a mid- to high-single-digit percentage. Chipotle also expects to open 285 to 315 new restaurants this year.
The company’s stock price has risen 32% this year, and Chipotle’s market value reaches $82.91 billion.
This is breaking news. Please refresh for updates.
