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Chipotle Mexican Grill, Inc. (NYSE:CMG ) Q1 2024 Earnings Conference Call April 24, 2024 4:30 PM ET Company Participants Cindy Olsen - Head of IR and Strategy Brian Niccol - Chairman and CEO Jack Hartung - Chief Financial and Chief Administrative Officer Conference Call Participants David Tarantino - Baird Lauren Silberman - Deutsche Bank Andrew Charles - TD Cowen Sara Senatore - Bank of America Jon Tower - Citigroup Dennis Geiger - UBS John Ivankoe - JPMorgan Sharon Zackfia - William Blair Brian Harbour - Morgan Stanley Chris O'Cull - Stifel Operator Good day and welcome to the Chipotle Mexican Grill First Quarter 2024 Conference Call. All participants will be in a listen-only mode.
While Chipotle and Ford gained on after-market beats, Meta and ServiceNow are selling off.
The headline numbers for Chipotle (CMG) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
The effects of California's $20 minimum wage for fast food workers are starting to show. Chipotle said the law raised wages at its restaurants by roughly 20%.
A little over a year ago, Chipotle announced the opening of its first Farmesa location.
Chipotle Mexican Grill (CMG) came out with quarterly earnings of $13.37 per share, beating the Zacks Consensus Estimate of $11.63 per share. This compares to earnings of $10.50 per share a year ago.
Meta Platform's (META) 1Q adjusted EPS came in at $4.71 versus an estimated $4.32 and revenue came in at $36.46B versus an estimated $36.28B. Caroline Woods and Kevin Green discuss these earnings as Meta Platforms' 1Q family ad impressions are up 20% year-over-year.
Brian Niccol, Chipotle CEO, joins 'Closing Bell Overtime' and CNBC's Kate Rogers to talk quarterly results, the state of the consumer, impact of inflation and more.
The burrito chain said traffic increased 5.4% in its first quarter.
Bill Ackman is the head of the Pershing Square hedge fund, which only reports seven different stocks in its portfolio. Six of the seven aren't tech stocks, including three of the top-four positions that account for half of the portfolio's value.