(Chipotle) Chipotle Mexican Grill Inc. stock rose more than 8% on Wednesday after reporting revenues of $1.960 billion in the fourth quarter of 2021, up by 22% from the prior year.
For FY21, total revenues were reported at $7.55 billion, up from $5.98 billion in the prior year.
The company’s net income fell to $133.5 million or $4.69 earnings per share in the fourth quarter, from $190.96 million or $6.69 per share in the comparable quarter of 2020. FY21 net income was $652.9 million, up from $355.8 million in the prior year.
Chipotle announced that its comparable restaurant sales rose by 15.2% in the fourth quarter, while in FY21, it grew by 19.3%.
Digital sales improved by 3.8% in the fourth quarter, accounting for 41.6% of the company sales. The operating margins was reported at 8.1%, up from 7.3% in the prior year.
Chipotle now projects growth in comparable restaurant sales in the mid to high single digits range in the first quarter of 2022. The company projects up to 250 new restaurant openings in 2022.
CMG: NYSE is up +8.28%.
