Newport Beach-based restaurant chain Chipotle Mexican Grill (NYSE: CMG) reported fourth-quarter revenue grew 22% to $2 billion from a year ago, surpassing Zacks Consensus estimate for $1.96 billion.
The company reported an adjusted profit of $5.58, topping the average $5.25 analyst estimate.
After the announcement, shares rose 6.7% to $1,558. At today’s close, the company’s market cap was $42 billion.Â
Digital sales in the quarter accounted for 42% of total sales with 4% growth in 2021 while comparable restaurant sales increased 15% from 2020. Â
“Moving forward, we believe expanding access and convenience through our digital ecosystem, accelerating unit growth, and continuing to develop and support our restaurant employees, will put us in a much stronger competitive position,” CEO and chairman Brian Niccol said.
