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Chipotle Mexican Grill, Inc. (CMG)

- NYSE
  • Oct. 20, 2014, 4:03 PM
    • Chipotle Mexican Grill (NYSE:CMG): Q3 EPS of $4.15 beats by $0.31.
    • Revenue of $1.08B (+30.6% Y/Y) beats by $20M.
    • Shares -1.23%.
    • Press Release
    | 9 Comments
  • Oct. 20, 2014, 1:49 PM
    • Shares of Chipotle (CMG +1.2%) trade higher heading into the company's Q3 earnings release after the bell today.
    • Analysts expect EPS of $3.84 on revenue of $1.06B.
    • The read from the restaurant operator on beef costs for Q4 and into 2015 will be closely watched.
    • Chipotle has already posted a pair of post-earnings rallies this year after reporting a sizzling pace of comparable-restaurant sales of 13.4% in Q1 and 17.3% in Q2. The forecast for Q3 is for another double-digit comp.
    • Chipotle earnings preview
    | 2 Comments
  • Oct. 19, 2014, 5:35 PM
  • Oct. 3, 2014, 7:44 AM
    • Qdoba (NASDAQ:JACK) is out with an aggressive promotion that will be closely watched by the restaurant industry.
    • The chain will offer guacamole, queso, and fajita vegetables for free when ordered as burrito or taco side beginning on October 14.
    • The initiative is part of an effort to give Qdoba a value edge, although some menu prices may increase slightly as an offset.
    • Chipotle (NYSE:CMG) currently charges $1.95 for guacamole as an extra (menu) with the company often citing the high input costs for the item.
    | Comment!
  • Sep. 23, 2014, 1:41 PM
    • Traffic to quick-service restaurants was flat for the year ending on June 30, according to data compiled by the NPD Group.
    • Establishments with an average check price of $10-$20 saw more traffic growth than sub-$10 outlets.
    • Fine dining restaurants saw a 3% increase in visits over the period.
    • The research firm says "cultural and economic phenomenon" have created a shift in consumer dining habits that may be permanent.
    • Restaurants stocks: CAKE, CBRL, CMG, DNKN, DPZ, DRI, EAT, JACK, MCD, PNRA, RRGB, RT, SBUX, SONC, WEN, BWLD, THI, BDL, NATH, LUB, BKW, CHUY, BLMN, PZZA, TXRH, DENN, KKD, BBRG, DFRG, BOBE, RUTH, IRG, DIN.
    | 4 Comments
  • Sep. 10, 2014, 3:33 PM
    • It's Chipotle's (CMG +0.1%) turn to hear from angry workers as a store at Penn State was forced to close temporarily on complaints from workers of sweatshop conditions.
    • The Penn State student newspaper broke the story of the employee revolt and reports that a regional Chipotle manager from Pittsburgh was on the scene.
    • What to watch: The fast-food sector has seen an increasing level of protests over low wages and working conditions over the last few weeks. Analysts think the temperature of the protests could be dialed up even hotter as November elections draw closer.
    | 6 Comments
  • Sep. 10, 2014, 7:54 AM
    • Oppenheimer raises its price target on Chipotle (NYSE:CMG) to $775 from $700.
    • The investment firm has CMG slotted with an Outperform rating.
    • Looking for a Chipotle bear? DoubleLine Capital's Jeffrey Gundlach admits candidly to being wrong about the prolonged rally in Chipotle, although he still calls the stock "horribly, horribly overvalued" looking ahead.
    | 1 Comment
  • Aug. 29, 2014, 10:15 AM
    • Traffic is still exceedingly strong at Chipotle (CMG -0.5%) stores, tips OTR Global.
    • Chipotle has been implementing price increases on a variety of menu items.
    • Same-store sales for Chipotle dazzled in Q2 with a 17.3% Y/Y rise.
    • Last week, Cleveland Research came up with the same conclusion as OTR Global on Q3 trends at Chipotle.
    | 2 Comments
  • Aug. 27, 2014, 3:25 PM
    • Execs with Chipotle (CMG -1.1%) are full of swagger after blasting away restaurant peers with a 17% gain in comparable-store sales in Q2.
    • The general take from inside the Denver juggernaut is that no other company is accomplishing what Chipotle is doing at scale and in a sustainable fashion.
    • Co-CEO Monty Moran goes as far as to say the traditional QSR game of value meals and "cheapening" the food experience is going away. Though he didn't name names, his description brings burger giant McDonald's (MCD +0.5%) and Burger King (BKW -3%) to mind.
    • What to watch: Chipotle is planning to apply some of the same principles that worked with the burrito chain to the ShopHouse and Pizzeria Locale concepts.
    | 9 Comments
  • Aug. 25, 2014, 1:54 PM
    • Larger restaurant chain operators might be looking to buy their way into growth to follow the lead of Burger King Worldwide, speculates MarketWatch.com
    • A filtered ranking of the top 10 North American restaurant chains with the best growth of sales per share ended up with Chipotle (CMG) and Buffalo Wild Wings (BWLD +2.1%) at the top of the list.
    • Sorting the list by lowest forward P-E ratio leaves Texas Roadhouse (TXRH +1.9%), Cheesecake Factory (CAKE +1.4%), and (perhaps a surprise) Yum Brands (YUM +0.9%) looking like potential M&A targets.
    • Other restaurant stocks: CBRL, DNKN, DPZ, DRI, EAT, JACK, MCD, PNRA, RRGB, RT, SBUX, SONC, WENBDL, NATHLUB, BKW, CHUY, BLMN, PZZADENN, KKD, BBRG, DFRG, BOBE, RUTH, IRG, DIN.
    | 9 Comments
  • Aug. 21, 2014, 9:22 AM
    • Shares of Chipotle (NYSE:CMG) are frisky in premarket action after Cleveland Research releases a note to investors on the restaurant operator.
    • The investment firm expects Q3 comps to accelerate once again as price increases kick in.
    • CMG +2.1% premarket
    | 2 Comments
  • Jul. 29, 2014, 8:16 AM
    | 1 Comment
  • Jul. 22, 2014, 12:47 PM
    | 10 Comments
  • Jul. 22, 2014, 12:12 PM
    • "With most restaurants struggling to drive positive traffic, CMG remains an anomaly, justifying an outsized valuation, with scarcity worth the premium," says Barclays in response to Chipotle's (CMG +12.8%) big Q2 beat. However, the firm is hesitant to recommend shares, given they now trade at 39x forward EPS.
    • "As more of Chipotle’s markets are touched with menu price increases this quarter, the company is teed up for at least another two quarter of strong earnings growth," thinks Belus Capital.
    • The company attributes only 250 bps of its 17.3% same-store growth (blew away a consensus of 10.5%) to its price hikes. Average transactions during peak lunch and dinner hours each rose by 8 Y/Y, and average check size rose by 5%, thanks partly to larger group sizes.
    • Chipotle did admit on its CC (transcript) its price hikes led to a "slight shift" among customers from steak to chicken, but insists "customers have generally responded well" otherwise. The company also noted it's experimenting with take out-focused restaurants that have limited seating, particularly in U.S./European locales with high real estate costs.
    • Prior Chipotle earnings coverage
    | 7 Comments
  • Jul. 22, 2014, 9:14 AM
    | Comment!
  • Jul. 21, 2014, 4:30 PM
    • With the help of its price hikes, Chipotle's (NYSE:CMG) same-store sales rose 17.3% Y/Y in Q2, a marked improvement from Q1's 13.4% clip and fueling a big Q2 beat.
    • The company now expects mid-teens 2014 same-store growth, up from prior guidance of high-single digit growth. It still forecasts 180-195 new 2014 restaurant openings.
    • Restaurant level op. margin was 27.3%, -30 bps Y/Y but +140 bps Q/Q. Food costs were 34.6% of revenue vs. 34.5% in Q1 and 33.1% a year ago. But labor costs -90 bps Y/Y to 21.8%, and occupancy costs -50 bps to 5.4%. G&A costs +90 bps to 7.1% of revenue.
    • 45 new restaurants were opened, raising total count to 1,681.
    • Q2 results, PR
    | 16 Comments
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Company Description
Chipotle Mexican Grill Inc operates Chipotle Mexican Grill restaurants, which serves a menu of burritos, tacos, burrito bowls (a burrito without the tortilla) and salads, made using fresh ingredients.
Sector: Services
Industry: Restaurants
Country: United States