For its first quarter, revenue grew 14.1% to $2.7 billion, with same-store sales jumping by 7%, higher than estimates of 5.13%. The company also beat expectations on the bottom line, with adjusted earnings per share coming in at $13.37, compared to estimates of $11.66., which are priced at a premium, boosted results against a difficult macro consumer backdrop. The chain saw a 5.4% increase in foot traffic, but the average check was only up 1.6%, lower than the 2.0% expected.
Prior to the results, Lauren Silberman of Deutsche Bank wrote in a client note that "Chipotle has been among the best-performing restaurant stocks." "I think brands who provide a lot of value and have good traffic are best positioned," said Peter Saleh of BTIG, who pointed out that Chipotle's chicken bowl averages $9 across the country, compared to $12 to $13 for many burger meals.
Trump is entitled to an additional 36 million shares if the company's share price trades above $17.50 "for twenty out of any thirty trading days" over the next three years.Spotify CEO Daniel Ek suggested more price increases are coming as the audio giant plans to offer various subscription plans to attract as many users as possible.Washington is spending another $61 billion to help Ukraine. But most of the money will flow through the US economy first.US Officials Seek $5.
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