3 Takeaways From Chipotle's Earnings Report
Last week, Chipotle Mexican Grill (NYSE: CMG) reported second-quarter adjusted earnings per share of $0.40, above consensus estimates of $0.35. Revenue decreased by 4.8% at $1.4 billion, again beating the $1.3 billion consensus projection. While comparable sales declined by 9.8%, affected by the closures and slowdown from COVID-19, the restaurant group saw strength in its digital business and its Chipotlane drive-throughs.
The consumer discretionary company also provided more details on its continuing efforts to invest in new restaurant openings, as well as digital investments and new dining options (including cauliflower rice and organic beverages). Here are three other takeaways from the second-quarter earnings report.
Image source: Chipotle.
Source Fool.com
