02/04/2025 09:51

Chipotle Mexican Grill (CMG US) $US51.67

It’s been a weak period for the Mexican eatery business with over 3700 stores primarily in the US, with their last result coming in very mildly below expectations in terms of same-store sales growth, which measures the performance of their existing store network (i.e. excluding the impact of new restaurants).

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05/02/2025 09:51

Chipotle Mexican Grill (CMG US) $US59.02

The Mexican chain reported in line with expectations at the top line (revenue) and earnings, however the keenly watched same store sales growth rate was slightly below expectations;

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30/10/2024 09:22

Chipotle Mexican Grill (CMG US) $US60.49

3Q results were released after market this morning that just missed expectations in terms of revenue and same store sales, but it was not by much. Shares were trading down ~4% after hours.

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12/09/2024 11:44

International Equities Portfolio – Amendments

We are making several changes to the International Equities Portfolio.

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31/07/2024 09:25

Chipotle Mexican Grill Inc (CMG US) $US52.57

The popular Mexican fast food chain recently underwent a share split and has now fallen from $US69 in June, back to ~$US50 this week, with recent quarterly earnings being the primary catalyst. Their quarterly numbers were ahead of expectations, with strong sales for the period and impressive guidance for the top line (i.e. sales remain strong), while they also announced a $US400m share buy-back – all good news; however, cost pressures are building and were highlighted through a cut to Q3 margin guidance, which is where the market has focussed.

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19/06/2024 09:22

Chipotle Mexican Grill (CMG US) vs Guzmay y Gomez (GYG)

There is little doubt that Guzman y Gomez (GYG) has taken the mantle as this year’s hottest IPO on the ASX, set to list tomorrow (20th June) after raising $335.1m at $22/sh giving the company a valuation of ~$2.2bn. The shares will likely do well on the open given scarcity of stock and large-scale backs, however, it is a spicy valuation and there is a large amount of growth that needs to happen to justify that number – more on that shortly.

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01/05/2024 09:24

Chipotle Mexican Grill (CMG US) $US3159.60

Another phenomenal quarterly result from the fast-growing Mexican eatery was reported last week, pushing shares to yet another all-time high.  Same-store sales (SSS) growth of 7.0% was a standout (about 2% ahead of consensus) driven by more sales at higher prices. To put this into context, Dominos (DMP) ran at 2.8% for Q4 in their US business but sub 2% more broadly. 

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28/02/2024 17:03

Guzman y Gomez – Results

The fast food Mexican is not a listed company but reported results today with a 1H loss of $3m on global sales that reached $471m in the half, up more than 30% on the same period a year ago. It opened 13 restaurants in Australia in the 6-months, and closed one, taking the network to 183 local stores across franchised and corporate-owned sites - same-store sales were up 11%.

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07/02/2024 09:23

Chipotle Mexican Grill (CMG US) $US2,487

The fast-growing Mexican eatery reported a strong set of Q4 results after market overnight that were impressive right across the board. Revenue was up 15% YoY at $2.52bn, while margins were exceptional both at the restaurant level (25.4%) and the broader operational level (14.4%) – both well ahead of expectations. This drove a decent beat at the profit line, with earnings per share (EPS) of $10.36, up from $8.25 YoY and ~6% ahead of consensus at $9.71.

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28/07/2023 09:28

Chipotle Mexican Grill (CMG US) $US1882.98

At their last quarterly update 3 months ago, the Mexican restaurant chain beat on nearly all metrics and rallied ~13% on the session. Overnight it was a different story as second-quarter same-store sales growth missed estimates while guidance for Q3 was light on, pushing the stock down 9%.

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