Chipotle Mexican Grill (NYSE:CMG) last traded at $1,692.97, a gain of $3.30 (+0.20%). CMG is set to release its earnings report this week, followed by a conference call at 4:30 p.m. ET. In the last quarter, the company posted better-than-anticipated results as higher ticket prices balanced out declining customer visits.
Analysts predict that this quarter, earnings per share will have risen by almost 60% and revenue will experience a double-digit increase. Wall Street analyst are observing if the company’s pricing power will remain strong and if the trend of declining traffic will reverse or worsen.
Chipotle has recently announced plans to hire 15,000 additional employees, indicating steady demand despite inflationary pressures. Historically, the company has outperformed earnings expectations 76% of the time, with an average 1.7% increase on earnings day. Additionally, Chipotle has posted better-than-expected earnings for the past seven consecutive quarters.