Chipotle earnings preview: Resilient foot traffic, higher menu prices expected to boost Q1 results

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Chipotle earnings preview: Resilient foot traffic, higher menu prices expected to boost Q1 results

Yahoo Finance04-25

Chipotle is expected to ring up another bowl of positive earnings, as investors wait for the latest numbers after the bell on Wednesday. Limited time offers like the return of the Carne Asada and ...

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The chain, which saw its foot traffic hold up in 2023, is battling against higher labor costs and sticky inflation — though it implemented higher prices to offset those headwinds.\"Chipotle has been among the best-performing restaurant stocks and we expect fundamental strength to continue to drive outperformance — traffic-driving initiatives  and strong pricing power support sustainable MSD+  same-store sales growth,\" Lauren Silberman of Deutsche Bank wrote in a note to clients.Wall Street will be looking for updates regarding its automation efforts, like Autocado. CEO Brian Niccol told Yahoo Finance that the machine is close to deployment.\"We're already on like our third or four","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"MCD":"麦当劳","CMG":"墨式烧烤"},"translate_title":"Chipotle收益预测：弹性客流量，更高的菜单价格有望提振Q1业绩","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CMG":0.9,"MCD":0.9},"content_text":"Chipotle is expected to ring up another bowl of positive earnings, as investors wait for the latest numbers after the bell on Wednesday.\nLimited time offers like the return of the Carne Asada and Chicken Al-Pastor, which are priced at a premium, can help boost results against a difficult macro consumer backdrop. The chain, which saw its foot traffic hold up in 2023, is battling against higher labor costs and sticky inflation — though it implemented higher prices to offset those headwinds.\n\"Chipotle has been among the best-performing restaurant stocks and we expect fundamental strength to continue to drive outperformance — traffic-driving initiatives (throughput, innovation, loyalty) and strong pricing power support sustainable MSD+ (mid-single digit) same-store sales growth,\" Lauren Silberman of Deutsche Bank wrote in a note to clients.\nWall Street will be looking for updates regarding its automation efforts, like Autocado. CEO Brian Niccol told Yahoo Finance that the machine is close to deployment.\n\"We're already on like our third or fourth prototype [of Autocado], and now we're like okay, this is ready to go into a restaurant. I'm sure when we put it in the restaurant, we'll learn something that might cause us to iterate one more time.\" \n\n\n\n  SAN RAFAEL, CALIFORNIA - APRIL 01: Workers help a customer at a Chipotle restaurant on April 01, 2024 in San Rafael, California. (Photo by Justin Sullivan/Getty Images)\n \n\n  Justin Sullivan via Getty Images\n \n\nInvestors will also look for how the California Fast Act, which increased fast food wages to $20 per hour, impacted its business there. Analysts had agreed that Chipotle is among companies who have the brand power and fan base to adjust to the change. \n\"I think brands who provide a lot of value and have good traffic are best positioned,\" said Peter Saleh of BTIG, who pointed out that Chipotle's chicken bowl averages $9 across the country, compared to $12 to $13 for many burger meals.\n\"They've built quite a bit of momentum in their business with respect to traffic,\" Citi analyst Jon Tower told Yahoo Finance. \nIn a note to clients, Sharon Zackfia of William Blair said about 14% of total Chipotle locations are in the Golden State, and suspects Chipotle raised prices about 7% in the state (including 8% to 10% on entrees) to cover incremental labor cost pressure. \nHere's what Wall Street expects from Chipotle, according to Bloomberg estimates: \n\nRevenue: $2.67 billion, up 12.9% from Q1 2023 ($2.37 billion)\nAdj. EPS: $11.66, up 11.1% from Q1 2023 ($10.50)\nSame-store sales growth: 5.13%\nMenu Price Increases: 2.87%\nTransactions growth: 3.03%\nAverage check growth: 2.00%\nDigital Sales growth: 3.39%\n\nIn 2024, Chipotle said it expects to open between 285 to 315 new restaurants, assuming that \"developer, permit, inspection, and utility delays do not worsen,\" per the previous quarterly release.\n—\nBrooke DiPalma is a senior reporter for Yahoo Finance. Follow her on Twitter at @BrookeDiPalma or email her at bdipalma@yahoofinance.com.\nClick here for the latest stock market news and in-depth analysis, including events that move stocks\nRead the latest financial and business news from Yahoo Finance","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}