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Chipotle Mexican Grill (CMG) Q3 2021 earnings


Outside a San Francisco Mexican Grill Inc. restaurant, a customer is carrying a Chipotle Mexican Grill Inc. Bag on Monday, July 20, 2020.

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Chipotle Mexican GrillAfter the bell on Thursday, is expected to release its third quarter earnings.

Refinitiv surveyed Wall Street analysts and found that they are anticipating the following:

  • Earnings per share: $6.32 expected
  • Estimated revenue: $1.94 trillion

Due to its strong online sales, the burrito chain has seen a rapid recovery from the pandemic. StreetAccount estimates that Wall Street expects the company will report a 14% increase in same-store sales. StreetAccount forecasts that same-store growth will be in the low-to mid-double digits. Chipotle saw its same-store sales rise 8.3% last year.

It limited-time addition of smoked brisket to the menuDespite the fact that sales were likely to increase, some customers may still prefer delta over other options. Executives said last quarter that dine-in customers had returned, however, those same consumers could have switched to ordering takeout or delivery after new Covid-19 cases were discovered in certain parts of the nation.

Investors will be also watching closely to determine if Chipotle has higher food prices or labor difficulties, as the rest of their industry. Domino’s PizzaThe labor crunch impacted its U.S. Same-Store Sales in large part due to some stores having their hours cut short. Chili’s parent Brinker International the surge of new Covid-19 cases in August exacerbated those issues for the companyIt is hitting its margins very hard.

Chipotle already increased prices for this year in order to compensate for an increase in workers’ pay. CFO Jack Hartung warned analysts last quarterThis quarter, food prices will be more expensive.

Chipotle shares have increased 33% in the past year to $51.87 billion, giving them a market capitalization of $51.87 trillion.