Fast Casual: Chipotle Posts Positive Q1 Earnings, Full-Year Outlook

In a much-needed bit of good news for Chipotle—and news that may bode well for the prospects of the entire foodservice segment—the fast-casual brand is reporting positive financial results for the first quarter of 2018.

Chipotle has been beset by a seemingly endless procession of setbacks in recent years, including multiple nation-wide contamination crises, but according to a recent article on fastcasual.com, things might finally be looking up for the brand, which reported its first quarter of same-store growth in more than a year.

The full financial results for Q1 showed total revenue increased by 7.4 percent, to $1.1 billion, while comparable restaurant sales increased by 2.2 percent. Restaurant-level operating margins also increased by 19.5 percent and net income increased by more than $13 million.

In 2018, management expects to see continued growth, including single-digit same-store growth and 130 to 150 new restaurant openings.

“While the company made notable progress during the quarter, I firmly believe we can accelerate that progress in the future,” said Chipotle CEO Brian Niccol in a statement regarding the earnings report. “We are in the process of forming a path to greater performance in sales, transactions, margins and new restaurants.”

Read the full article at fastcasual.com.

Image courtesy of Chipotle’s Instagram page.