Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Chipotle Mexican Grill
So What: The company reported blowout earnings yesterday afternoon. That closely watched restaurant metric, same-store sales, rose 11.4% year over year in Q3. Restaurant-level operating margins increased to 27.7%, and earnings per share clocked in at $1.52 per share, a 40.7% increase from last year.
Now What: Chipotle's performance blew away Wall Street analysts' earnings estimates, so watch for burrito-sized increases to estimates in the coming days. Higher expectations make it more challenging for a company to cook up earnings surprises, but the Chipotle concept and management team keep delivering nonetheless.
Interested in more info on Chipotle Mexican Grill? Add it to your watchlist here by clicking here.
Fool contributor April Taylor owns shares of Chipotle. Chipotle Mexican Grill is a Motley Fool Rule Breakers pick, a Motley Fool Hidden Gems choice, and a Fool holding. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.