On January 12, 2024, a customer held a bag of food outside a Chipotle restaurant in New York.
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 the departure of Chief Executive Brian Niccol, who left to lead the taco chain in late August. Starbucks‘ turn around. Chief Operating Officer Scott Boatwright currently serves as Chipotle’s interim CEO.
Despite an unexpected executive shakeup, Wall Street remains confident that 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-fueled backlash over the size of its burrito bowls didn’t slow the chain’s growth, despite then-CEO Nicol’s promise to re-emphasize the restaurant’s generous portions.
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.
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