Chipotle Q4 earnings fall short of Wall Street expectations, but digital drives sales boom

Chipotle (CMG) on Tuesday reported mixed fourth-quarter results, with the fast-food giant reaping strong sales driven by COVID-19 era digital orders, even as profit fell short of expectations.

Here’s what the California-based company reported, compared to Wall Street’s expectations, according to a Bloomberg consensus estimate:

  • Revenue: $1.61B versus $1.61 billion expected
  • Adj. earnings per share (EPS): $3.48 versus $3.72 per share expected
  • Same-store sales: 5.7% versus 6.09% expected

During the quarter, the closely-followed comparable-store sales increased 5.7%, driven by a whopping 177.2% in digital transactions, which accounted for 49% of sales. Still, shares of Chipotle fell by 3.29% in after-market trading, as investors digested the report.

“Expanding access and convenience through our digital ecosystem has kept the Chipotle brand relevant and with world class talent, an inclusive culture, strong business fundamentals and deep financial strength, we are well prepared to emerge even stronger post-COVID,” chairman and CEO Brian Niccol said.

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