Chipotle Mexican Grill (CMG) Q1 2025 earnings

Chipotal mexican grill After 2020 on Wednesday, the first time after the decline in sales of his-store, weakened-to-introduced quarterly revenue reported.

Authorities cited both recession as two factors in consumer expenses and adverse weather, which reduced the demand of its boaritos and bowls.

The company also reduced the top end of its approach to the same-store sales growth throughout the year.

In extended trading, chipotl shares fell more than 5%. The stock closed before 3.5% on Wednesday.

Here’s what the company expected compared to Wall Street, based on a survey of analysts by LSEG:

• Income per share: 29 cents adjusted vs. 28 cents expected
• Revenue: $ 2.88 billion vs $ 2.95 billion is expected

Pure sales rose by 6.4% to $ 2.88 billion.

Same store sales of the series during the quarter fell 0.4%, lower than an estimated 1.7% increase by streetcut estimates. Restaurant transactions fell 2.3% and only partially increased by 1.9% increase in average probes.

The company does not expect traffic in its restaurant to grow till the second half of the year.

“I am confident that we have a strong plan to return to positive transactions to comps to the second half of the year, and during these uncertain times, we will continue to invest in things that make chipatls a special brand – our people, Pak, price offers, innovation and development,” CEO Scott Boturite said in a statement.

For the whole year, chipatl will now increase the same-store sales by low single digits. Earlier, it was estimated to increase equal-store sales in the limit of at least-nine points.

The company reiterated its plan to open between 315 and 345 new restaurants by the end of 2025.

Chipatl reported a net income of the first quarter per share, $ 386.6 million, or 28 cents per share, a year ago, which was $ 359.3 million, or 26 cents per share.

Except for stock-based compensation grant, the company earned 29 cents per share, except for the grant of its recent CEO.