Chipotle Mexican Grill Inc. (CMG - Free Report) just released its second quarter fiscal 2016 earnings results, posting earnings of $0.87 per share (excluding special items) and revenue of $998.4 million.
Currently, CMG has a Zacks Rank #5 (Strong Sell), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
Chipotle Mexican Grill:
Missed earnings estimates. The company posted earnings of $0.87 per share (excluding special items), missing the Zacks Consensus Estimate of $0.98 per share.
Missed revenue estimates. The company saw revenue figures of $998.4 million, coming in below our consensus estimate of $1.04 billion and decreasing 16.6% year-over-year.
Saw same-store sales decline 26.5% compared to the same quarter last year.
The company said that July comp trends have improved by 200-300 basis points, and transaction trends have improved by an even greater amount, likely from the company’s recent “Chiptopia” rewards program launch.
CMG was down $8.07, or 1.93%, to $410.00 as of 4:34 PM ET in after-hours trading shortly after its earnings report was released.
Here’s a graph that looks at Chipotle’s stock price and consensus estimates since 2015:
Chipotle Mexican Grill Inc., together with its subsidiaries, develops and operates fast-casual fresh Mexican food restaurants. The company offers a focused menu of burritos, tacos, burrito bowls and salads made from fresh, high-quality raw ingredients, prepared using classic cooking methods and served in a distinctive atmosphere. Through its vision of Food with Integrity, Chipotle is seeking better food not only from a variety of fresh ingredients, but ingredients that are sustainably grown and naturally raised with respect for the animals, the land, and the farmers who produce the food.
Check back later for our full analysis onCMG’s second quarter earnings report!
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