The Chipotle logo is seen in New York City on July 16, 2024.
Jakub Porzycki | Nurphoto | Getty Images
Chipotle Mexican Grill is expected to report its first-quarter earnings after the bell on Wednesday.
Here’s what Wall Street analysts surveyed by LSEG are expecting the company to report:
- Earnings per share: 28 cents expected
- Revenue: $2.95 billion expected
Investors are projecting that the burrito chain will report weaker same-store sales growth this quarter. The company said in early February that sales softened in January, hurt by weather and the wildfires in Los Angeles. The company is expected to report same-store sales growth of 1.7%, according to StreetAccount estimates.
Still, executives have said underlying demand for its burritos and bowls remains strong.
The company has also been expanding its international footprint. On Monday, Chipotle announced a development deal to open restaurants in Mexico for the first time.
Chipotle’s full-year forecast anticipates same-store sales growth in the low- to mid-single-digit range.
Shares of the company have fallen 15% over the past year, dragging its market value down to roughly $65 billion. The White House’s trade wars and related recession concerns have weighed on the stock.
