A Chipotle restaurant in New York, US, on Monday, July 3, 2023.
Jeenah Moon | Bloomberg | Getty Images
Chipotle Mexican Grill is expected to report its second-quarter earnings after the bell Wednesday.
Here’s what Wall Street analysts surveyed by Refinitiv are expecting the company to report:
- Earnings per share: $12.31 expected
- Revenue: $2.53 billion expected
Like most restaurant chains, Chipotle handled rising labor and ingredient costs by hiking its prices. But the burrito chain said last quarter it’s all done raising prices for now.
Even as the prices for burrito bowls and tortilla chips have risen, the high-income consumers who make up the bulk of Chipotle’s customer base have been visiting more frequently. Wall Street is expecting the company will report same-store sales growth of 7.5% for the second quarter.
For the rest of the year, Chipotle is anticipating same-store sales growth in the mid-to-high single digits.
The company’s stock has climbed 50% year to date.