Chipotle Mexican Grill (CMG) Q2 2024 earnings

Chipotle Mexican Grill is expected to report its second-quarter earnings after the bell on Wednesday.

Here is what Wall Street analysts surveyed by LSEG are expecting the company to report:

• Earnings per share: 32 cents expected
• Revenue: $2.94 billion expected

In recent months, the burrito chain has faced backlash from some customers on social media who claim that the size of their bowls has shrunk, despite denials from CEO Brian Niccol. But it is unlikely that those complaints will snap Chipotle’s winning streak, after it has seen traffic rise for several quarters while the rest of the industry struggles to attract diners.

Wall Street analysts are expecting Chipotle’s same-store sales to rise 9.2% in the second quarter, according to StreetAccount estimates. Niccol has credited the chain’s value perception among diners as one reason for its strong performance in recent quarters.

For the full year, Chipotle anticipates same-store sales will grow by a mid- to high-single-digit percentage.

Shares of Chipotle have risen 24% this year, bringing its market value up to $72.82 billion. A month ago, the company split its stock 50-for-1, one of the largest in the New York Stock Exchange’s history.