A man wearing a protective mask and gloves walks out of a Chipotle restaurant on April 19, 2021 in San Francisco, California.
David Paul Morris | Bloomberg Getty Images
Chipotle Mexican Grill is expected to report its first quarter earnings after the bell on Wednesday.
Here’s what Wall Street analysts are expecting to survey by Refinitiv:
- earnings per share: $ 4.89 required
- Revenue: $ 1.74 billion expected
This marks the first quarter that Chipotle will face comparisons to its business under the pressure of Lockdoll. Following last year’s two-month double-digit same-store sales growth, the Bertito chain saw a 16% drop in March-store sales, as states temporarily banned individual meals and consumers. Had stopped at home.
Since then, Chipotle sales have made a steady return, thanks to online and delivery orders. Announcing its fourth quarter results, the company said it expected same-store sales growth in the mid-to-high teens during the first quarter, assuming the epidemic did not worsen. January same-store sales rose 11%, fueled by the cauliflower rice launch, which cost an additional $ 2 per order.
The rice option is not the only new menu item that Chipotle released in the first quarter. The company launched Xydillas as a digital-only option in mid-March.
The company’s shares have almost doubled in value from the previous year, giving it a market value of $ 42.8 billion.