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Chipotle Mexican Grill Jumps After Earnings Easily Beat Forecasts

Chipotle Mexican Grill Jumps After Earnings Easily Beat Forecasts paragraph is one about the Finance, Forex categories, written with our author Erick Emerson at February 7, 2019, that article can search at those hastag Beat, Chipotle, earnings, Easily, Forecasts, Grill, jumps, Mexican. We are happy to pleasant you as well providing those others essay regarding finance along with I am always updating those paragraph frequenlty.

Chipotle Mexican Grill Inc. (CMG) rose 9.9% in premarket trading after the burrito chain posted adjusted fourth-quarter earnings that beat analysts’ estimates.

Chipotle earned $1.72 a share on an adjusted basis with revenue rising 10% to $1.2 billion. Analysts had called for adjusted earnings of $1.40 a share on sales of $1.2 billion.

Same-restaurant sales rose 6.1% in the quarter vs. analysts’ expectations of an increase of 4.5%. Chipotle said it expects comparable-restaurant sales growth in the mid-single digit range in 2019.

“I’m very pleased to report strong fourth quarter results with 6.1% comparable restaurant sales growth that included 2% transaction growth,” said CEO Brian Niccol. “For the full year, Chipotle’s average unit volumes exceeded $2 million with digital sales surpassing half a billion dollars.”

Digital sales in the quarter rose 65.6% to account for nearly 13% of all sales.

Chipotle said it plans for 140 to 155 new restaurants in 2019.

The company’s board also approved a buyback of an $100 million of stock.

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