Chipotle showed resilience in Q3

October 22, 2020

Despite the promising results, Chipotle’s stock price fell after the report

Chipotle’s net income came in at $80.2 million, or $2.82 per share. Due to pandemic-related restructuring costs, the figures came below last year’s $3.47 a share.

Chipotle managed to report sales growth despite the business being affected by the pandemic. The same-store sales gained 8.3% from the last year’s figures. The figures topped the 7.3% increase forecasted.

Digital sales reported the most significant increase – 202.5% - to $776.4 million, making up 48.8% of the total quarterly sales.

Overall, the sales totaled $1.6 billion, 14% higher than last year’s numbers.

Following the report, Chipotle’s stock price lost nearly 5%. Year-to-date, the company’s stock gained 60%, while USA500 went up 6.6%.

Sources: marketwatch.com

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