Wednesday April 24, 2024, 18:03:30
By Mark Kalinowski
After today’s (Wednesday’s) market close, Chipotle Mexican Grill reported its Q1 adjusted EPS reached $13.37, notably above our $11.20 forecast and sell-side consensus (according to Consensus Metrix) of $11.67. The Q1 adjusted tax rate came to 22.1%, more favorable than our 25.5% forecast and consensus of 25.2%. Relative to consensus, the more favorable Q1 adjusted tax rate helped EPS by about +54 cents. This leaves +116 cents of the Q1 EPS beat attributable to other factors.
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Tuesday April 2, 2024, 09:33:51
By Mark Kalinowski
Yesterday, we published a note detailing Starbucks’ menu-price increases at 20 of its stores in California. That note is available at:
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Tuesday February 6, 2024, 18:10:42
By Mark Kalinowski
After today’s (Tuesday’s) market close, Chipotle Mexican Grill reported Q4 2023 adjusted EPS of $10.36, ahead of our $9.49 forecast and sell-side consensus (according to Consensus Metrix) of $9.71. We attribute the earnings beat to leverage gained from better-than-expected same-store sales growth. Management indicates that at least part of the same-store sales robustness was achieved due to better throughput during key dayparts.
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