Overview
- Chipotle will report second-quarter results after the market close on July 29 with an earnings call scheduled for 4:30 p.m. ET.
- Shares are trading near $33, roughly 30% below the 52-week high while 35 analysts carry an average price target around $43.
- Investors are watching transactions and restaurant-level margin because growth driven by more customers is stronger evidence of a sustained recovery than higher average checks.
- The company opened 49 restaurants in the period, 42 with Chipotlane drive-through lanes, and digital orders accounted for 38.6% of food and beverage revenue.
- Full-year guidance calls for 350 to 370 new locations and the Q2 print will influence whether that expansion and the 'Recipe for Growth' can close the valuation gap and affect investor buying decisions.