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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18/05/2023 15:04

International Equities Portfolio – Amendments

We are making several changes to the International Equities Portfolio.

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27/04/2023 09:40

Chipotle Mexican Grill (CMG US) $US2009.85

Two stocks we own in our International Equities Portfolio had stellar sessions, Microsoft (MSFT US) beat quarterly earnings and rallied strongly, while the real star was Mexican restaurant chain Chipotle (CMG US) which stormed to new all-time highs up nearly 13% on the session. While they produced better earnings numbers as we covered yesterday morning, some of the rhetoric we heard on the conference call was interesting:

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26/04/2023 09:05

Chipotle Mexican Grill (CMG US) $US1780

The Mexican Grill reported 1Q revenue & earnings above expectations overnight, showing their ability to push through price increases to offset inflation, while still growing volumes. EPS of $10.50 per share compared to $5.59 this time last year and shows the business is tracking well. Shares are up 7.6% in after-hours trading which speaks to the strength of the result. All going well for CMG.

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07/12/2022 09:38

Chipotle Mexican Grill (CMG US) $US1508.40

The position is down ~4% since going ‘high conviction’ on the Mexican Grill however our views have not changed. This is a company with a very strong pipeline for sustainable growth over the coming years, and we can see this being a key member of the Market Matters International Equities Portfolio for years to come.

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26/10/2022 09:50

Chipotle Mexican (CMG US) $US1584.02

The ‘Guac’ will generally rise to the top, and this chain of Mexican Restaurants has a lot going for them in this type of tough economic environment.

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12/10/2022 09:39

Chipotle Mexican (CMG US) $US1491.06

MM has owned this Mexican Restaurant chain that owns nearly 3,000 quick-casual eateries since March this year and while we are marginally behind on the position (-3%), the stock has been a big outperformer relative to the broader market and other sector players, and rightly so. Their performance continues to be very strong in a tough environment, with...

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07/09/2022 09:30

International Equities Portfolio

The MM International Equities Portfolio was higher during the week up +0.26% however it was more influenced by the weakness in the Australian Dollar versus stock performance. Still, good gains were experienced in our favourite Mexican Chipotle (CMG US) +3.93% & Glencore (GLEN LN) +3.36% although Snowflake (SNOW US) fell by  -5.77%. Cash remains elevated at 9%.

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