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Chipotle Mexican Grill (CMG) Q1 2022 earnings


One customer sits in front of Chipotle’s Santa Clara restaurant on Tuesday Oct. 19, 2021.

Bloomberg | Bloomberg | Getty Images

Chipotle Mexican GrillIt is anticipated that it will report first-quarter earnings following the bell on Tuesday.

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

  • Earnings per share: $5.64 expected
  • Estimated revenue: $2.01 Billion

Chipotle is facing increased labor costs, just like other restaurants. Executives said last quarterAlthough the company has price power, investors will monitor to determine if customers are willing to spend more on their burritos and tacos.

The omicron variant of winter storms and slowing sales in same-stores was expected already. StreetAccount estimates show that Wall Street forecasts 7.9% increase in same-store sales for the fourth quarter. The chain saw 15.2% growth in same-store sales last quarter.

These challenges have led to the stock selling off before the company’s earnings report. Shares have dropped 11% in the past week giving the company an estimated market value of $40.4 million.

This story is still in development. Stay tuned for new updates.