Chipotle Reports Earnings, Topping Estimates financialbuzz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialbuzz.com Daily Mail and Mail on Sunday newspapers.
Total revenue increased 11.6% to $1.6 billion for the fourth quarter ended Dec. 31, the company said.
Excluding one-time items, the company earned $3.48 per share, missing the estimate of $3.73, according to IBES data from Refinitiv. It is now well established that November was weak across the space, and while Chipotle is resilient, it is not immune, Piper Sandler analysts wrote in a note after earnings report.
The company s share price was up more than 10% so far this year and rose 66% in 2020 - by far the best-performing stock in the restaurant industry, according to Credit Suisse.
Its success came partly from its ability to ramp up digital sales quickly during the pandemic. For the full-year 2020, Chipotle s digital sales grew 174.1% to $2.8 billion and made up 46.2% of sales. About half of digital sales were for delivery orders.