Chipotle Shares Jump After Another Monster Quarter

Chipotle

Photo: Flickr

Shares of restaurant chain Chipotle are up 3% after hours after it reported another lights-out quarter.Below, the highlights form the release

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Highlights for the third quarter of 2011 as compared to the third quarter of 2010 include:

  • Revenue increased 24.1% to $591.9 million
  • Comparable restaurant sales increased 11.3%
  • Restaurant level operating margin was 26.7%, a decrease of 100 basis points
  • Food costs were 33.1% of sales, an increase of 250 basis points driven by rising commodity costs
  • Net income was $60.4 million, an increase of 25.3%
  • Diluted earnings per share was $1.90, an increase of 25.0%

Highlights for the nine months ended September 30, 2011 as compared to the prior year include:

  • Revenue increased 23.6% to $1.67 billion
  • Comparable restaurant sales increased 11.2%
  • Restaurant level operating margin was 25.9%, a decrease of 100 basis points
  • Food costs were 32.7% of sales, an increase of 230 basis points driven by rising commodity costs
  • Net income was $157.5 million, an increase of 18.8%
  • Diluted earnings per share was $4.96, an increase of 18.7%

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