Chipotle Mexican Grill (NYSE: CMG) reported a blowout quarter in the last three months of 2023. Revenue of $2.5 billion and adjusted earnings per share of $10.36 both beat Wall Street expectations. Within 24 hours following the announcement, shares were up about 8%.

In the past five years, this magnificent restaurant stock has skyrocketed 406%, crushing the S 500 by a wide margin. Here's why investors are buying Chipotle hand over fist right now.

Compared to 2022's fourth quarter, the company's revenue increased by 15.4%, driven by an 8.4% rise in same-store sales. What's noteworthy is that Chipotle reported an impressive 7.4% jump in transaction counts, indicating that foot traffic at its restaurants remains robust despite ongoing macroeconomic uncertainty.

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Source Fool.com