WASHINGTON (dpa-AFX) - Chipotle Mexican Grill Inc. (CMG) Thursday reported an increase in profit for the first quarter, driven mainly by double-digit growth in revenues.
The Denver, Colorado-based company reported first-quarter net profit of $62.66 million or $1.97 per share, compared to $46.38 million or $1.46 per share last year. On average, 25 analysts polled by Thomson Reuters expected the company to earn $1.93 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter rose 25.8 percent to $640.60 million from $509.38 million in the prior-year quarter. Twenty three analysts had a consensus revenue estimate of $630.92 million for the quarter.
Comparable restaurant sales increased 12.7 percent, primarily driven by higher traffic and menu prices.
Copyright RTT News/dpa-AFX