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Chipotle Mexican Grill, Inc. (CMG)

  • Wed, Feb. 4, 9:27 AM
  • Wed, Feb. 4, 9:13 AM
  • Tue, Feb. 3, 5:37 PM
    • Top gainers, as of 5:15 p.m.: ENTR +7.8%. MXL +5.6%. CRMD +5.0%. DWTI +4.7%. TTWO +4.6%.
    • Top losers, as of 5:15 p.m.: MYGN -15.4%. PLNR -8.5%. BC -8.4%. CMG -6.9%. WTW -5.8%.
  • Tue, Feb. 3, 4:12 PM
    • Chipotle (NYSE:CMG) reports comparable-store sales rose 16.1% in Q4.
    • Analyst estimates for comp sales ranged from 14% to 17%.
    • Restaurant level operating margin +100 bps to 26.6% as sales leverage kicked in.
    • Food cost ratio +110 bps to 35.0%.
    • Store count +60 Q/Q to 1,783.
    • Guidance: Chipotle's comp growth projection of a low to mid-single digit rate trails the 8% consensus estimate.
    • CMG -6.1% after-hours.
  • Wed, Jan. 14, 8:40 AM
    • Chipotle (NYSE:CMG) has pulled sales of pork items at close to a third of its restaurants after determining a supplier didn't comply with animal-welfare standards.
    • The supplier reportedly was raising pigs without any access to the outdoors.
    • CMG -0.6% premarket.
  • Thu, Jan. 8, 11:26 AM
    • Citi takes a bullish view on select names in the restaurant sector.
    • Wendy's (WEN +1%) is initiated at Buy with a $11 price target. Analyst Gregory Badishkanian sees some of the company's initiatives helping to draw in millennials.
    • Coverage on Chipotle (CMG +3.5%) is assumed again at a Buy with a $809 PT. Shares of CMG are at an all-time high after taking out $700 earlier this week.
    • The investment firm is also backing Restaurant Brands (QSR +2.7%) and Brinker International (EAT +1.1%) for gains with resumed Buy ratings.
    | Comment!
  • Oct. 21, 2014, 9:44 AM
    • Execs with Chipotle (CMG -4.2%) say they see adding 190 to 205 restaurants next year as a "sensible" growth rate, but decline to give store count guidance beyond 2015.
    • Comp sales growth of close to 20% was achieved mainly through traffic increases (not pricing). Chipotle's comp gain would have been slightly higher if not for a customer trade down from steak to chicken during the quarter.
    • No surprise, but the company warns the sizzling comp growth numbers are likely to fall back as the company laps quarters which included price hikes.
    • The company says it plans to open a small number of grocery restaurants in 2015.
    • Though checkout speed has been impressive for Chipotle compared to peers, management still sees room for improvement. The average restaurant turns over just a third of the high end mark of 350 transactions per hour.
    • There's no plans to roll out Apple Pay capabilities at stores.
    • Earnings call transcript
    | Comment!
  • Oct. 20, 2014, 4:08 PM
    • Chipotle (NYSE:CMG) reports comparable-restaurant sales rose 19.8% in Q3.
    • Restaurant-level operating margin +200 bps to 28.8% as sales leverage overrode higher beef and avocados pricing.
    • The company notes the quarter included a full month of higher menu prices.
    • Food costs ratio +70 bps to 34.3%.
    • Store count +43 to 1,724.
    • 2014 guidance: The outlook is for a mid-teens comparable-restaurant sales growth mark. 180 to 195 new restaurant openings anticipated.
    • 2015 guidance: The company expects a low to mid-single digit comp as it starts lapping the quarters with price hikes. 190 to 205 new restaurants are forecast to be opened.
    • CMG -2.2% AH.
    | Comment!
  • 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
  • Jul. 22, 2014, 12:47 PM
  • 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
  • Jul. 22, 2014, 9:14 AM
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  • 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
  • Jul. 21, 2014, 4:05 PM
    • Chipotle Mexican Grill (NYSE:CMG): Q2 EPS of $3.50 beats by $0.41.
    • Revenue of $1.05B (+28.6% Y/Y) beats by $61.87M.
    • Shares +6.8%.
    • Press Release
  • Apr. 30, 2014, 9:21 AM
    • Shares of Noodles (NDLS) and Panera Bread (PNRA) trade lower in premarket action after the fast-casual restaurant chains fail to come anywhere close to matching the double-digit comparable-sales growth that Chipotle (CMG) churned up for the first quarter.
    • Restaurant sector analysts have noted that speed of service and simplicity of menu are two significant factors in the segment.
    • Panera Bread is addressing its "mosh-pit" order pickup issue, while Noodles thinks it can regain traffic to bring scale back into play for margin expansion.
    • Execs with both companies made a strong case during their earnings calls that Q1 results were due to transitory or one-time factors.
    • Conference call transcripts: NDLS, PNRA
    • Premarket: NDLS -6.5%, PNRA -5.6%, CMG -0.3%
  • Mar. 24, 2014, 2:38 PM
    • Shares of Green Mountain Coffee Roasters (GMCR -5.4%), Tesla Motors(TSLA -4.2%) and Chipotle (CMG -3.4%) are getting wrapped up in a momentum selloff.
    • SA contributor Bill Maurer has the breakdown on which beat-up momo names are offering the biggest discount off their 52-week highs today.
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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