Chipotle Mexican Grill (CMG) Q2 2024 earnings

Chipotle Mexican Grill is anticipated to report its second-quarter earnings after the bell on Wednesday.

Here’s what Wall Road analysts surveyed by LSEG predict the corporate to report:

• Earnings per share: 32 cents anticipated
• Income: $2.94 billion anticipated

In latest months, the burrito chain has confronted backlash from some prospects on social media who declare that the scale of their bowls has shrunk, regardless of denials from CEO Brian Niccol. However it’s unlikely that these complaints will snap Chipotle’s profitable streak, after it has seen visitors rise for a number of quarters whereas the remainder of the business struggles to draw diners.

Wall Road analysts predict Chipotle’s same-store gross sales to rise 9.2% within the second quarter, in accordance with StreetAccount estimates. Niccol has credited the chain’s worth notion amongst diners as one motive for its robust efficiency in latest quarters.

For the complete 12 months, Chipotle anticipates same-store gross sales will develop by a mid- to high-single-digit share.

Shares of Chipotle have risen 24% this 12 months, bringing its market worth as much as $72.82 billion. A month in the past, the corporate break up its inventory 50-for-1, one of many largest within the New York Inventory Alternate’s historical past.