Chipotle Mexican Grill (NYSE:CMG) reported Q2 EPS of $9.30, $0.26 better than the analyst estimate of $9.04. Revenue for the quarter came in at $2.2 billion versus the consensus estimate of $2.25 billion. Comparable restaurant sales increased 10.1%.
GUIDANCE:
For 2022, management is anticipating the following:
- Third quarter comparable restaurant sales growth, including planned price increases in August, in the mid to high-single digits.
- Between 235 to 250 new restaurant openings (including 10 to 15 relocations to add a Chipotlane), which assumes construction, permit and material supply delays don't worsen
- An estimated underlying effective full year tax rate between 25% and 27% before discrete items