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Last $721.20 USD
Change Today -5.97 / -0.82%
Volume 235.6K
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

chipotle mexican grill inc (CMG) Key Developments

Chipotle Mexican Grill, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Year 2015; Plans to Open New Stores in 2015

Chipotle Mexican Grill, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company generated revenue of $1.2 billion, an increase of 14.1% on comparable restaurant sales growth of 4.3% and the opening of 48 new restaurants. The growth in revenue was driven by new restaurants not in the comparable base and a 4.3% increase in comparable restaurant sales. Comparable restaurant sales growth was driven primarily by an increase in average check, which includes the benefit of a nationwide menu price increase that was fully rolled out during the second quarter of 2014. Net income for the second quarter of 2015 was $140.2 million, or $4.45 per diluted share, compared to $110.3 million, or $3.50 per diluted share, in the second quarter of 2014. Income from operations was $227.416 million compared to $179.842 million a year ago. Income before income tax was $229.158 million compared to $180.986 million a year ago. For the six months, the company reported revenue of $2.3 billion, up 17.0% from the first six months of 2014. The growth in revenue was driven by new restaurants not in the comparable base and a 7.1% increase in comparable restaurant sales. Comparable restaurant sales growth was driven primarily by an increase in average check, which includes the benefit of a nationwide menu price increase that was fully rolled out during the second quarter of 2014, and to a lesser extent increased traffic. Net income for the first half of 2015 was $262.8 million, or $8.34 per diluted share, compared to $193.3 million, or $6.14 per diluted share, in the first half of 2014. Income from operations was $425.217 million compared to $315.492 million a year ago. Income before income tax was $428.182 million compared to $317.325 million a year ago. Net cash provided by operating activities was $401.130 million compared to $360.431 million a year ago. Purchases of leasehold improvements, property and equipment was $114.395 million compared to $102.840 million a year ago. The company estimates its effective tax rate for the full year 2015 will be about 38.7%, and that compares to 37.6% for the full year 2014. Low-to-mid single digit comparable restaurant sales increases. For the year 2015, the company expects new restaurant openings at or above the high end of the previously announced range of 190-205.

Chipotle Mexican Grill to Open in Downtown of Birmingham

Chipotle Mexican Grill announced that it will open its first downtown Birmingham location before the end of the year 2015. At 20 Midtown, Chipotle will be in the same building as Starbucks, with 36 apartments on the upper floors. SRS will have an office next to Chipotle, with the leasing office for the apartments also nearby. Leasing for the apartments will start July 1, 2015 and Starbucks is aiming to open before the end of July 2015.

Chipotle Mexican Grill Plans to Open 1,300-Square-Foot Eatery in Pineville Shopping Center's Food Court

Chipotle Mexican Grill plans to open a 1,300-square-foot eatery this summer in the Pineville shopping center's food court. The fast-casual restaurant has grown to more than 1,700 locations. The store will be on the mall's lower level, beside Belk.

Chipotle Mexican Grill, Inc. to Report Q2, 2015 Results on Jul 21, 2015

Chipotle Mexican Grill, Inc. announced that they will report Q2, 2015 results at 4:00 PM, US Eastern Standard Time on Jul 21, 2015

Chipotle Mexican Grill, Inc., Q2 2015 Earnings Call, Jul 21, 2015

Chipotle Mexican Grill, Inc., Q2 2015 Earnings Call, Jul 21, 2015

 

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CMG

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Valuation CMG Industry Range
Price/Earnings 43.3x
Price/Sales 5.0x
Price/Book 9.8x
Price/Cash Flow 34.7x
TEV/Sales 4.8x
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