Best Idea Chipotle Mexican Grill’s Growth Runway is Enormous
publication date: Oct 24, 2021
Image Shown: Chipotle Mexican Grill Inc’s restaurant level unit economics continued to improve in the third quarter of 2021, supporting the company’s growth trajectory. Image Source: Chipotle Mexican Grill Inc – Third Quarter of 2021 Non-GAAP Reconciliation Presentation.
On October 21, Chipotle Mexican Grill reported third-quarter 2021 earnings that beat both consensus top- and bottom-line estimates. Comparable restaurant sales grew 15% year-over-year last quarter as Chipotle’s e-commerce business held up well, with digital sales up 9% year-over-year (representing 43% of its total sales during this period), while customers resumed in-store dining activities in earnest. We liked what we saw in Chipotle’s latest earnings report. Shares of CMG are included as an idea in the Best Ideas Newsletter portfolio.
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