on Wednesday reported quarterly earnings and revenue that beat analysts' expectations, fueled by higher traffic to its restaurants.Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Revenue: $2.7 billion vs. $2.68 billion expected
Excluding a 36-cent hit from increases to its legal reserves, the burrito chain earned $13.37 per share.The company's same-store sales rose 7%, topping StreetAccount estimates of 5.2%. Chipotle said traffic increased 5.4% from the year-ago period, while average check was up just 1.6%., CFO Jack Hartung told analysts that "unusually cold weather" hurt January sales. But demand likely rebounded in the rest of the quarter to offset the sluggish first month.
The chain added 47 new locations to its footprint during the first quarter, inching closer to its long-term goal of doubling its total number of restaurants to reach 7,000 stores.