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Chipotle Mexican Grill (CMG) Q2 2021 earnings

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A person wearing a protective mask and gloves exits a Chipotle restaurant in San Francisco, California, April 19, 2021.

David Paul Morris | Bloomberg | Getty Images

Chipotle Mexican Grill will report its second-quarter results after the bell on Tuesday.

Here’s what Wall Street analysts surveyed by Refinitiv are expecting:

  • Earnings per share: $6.52 expected
  • Revenue: $1.88 billion expected

A year ago, the burrito chain’s net sales fell 4.8% as lockdowns weighed on demand. This quarter, analysts expect revenue to surge nearly 38%. During the pandemic, its digital orders skyrocketed, helping the business recover quickly. During the company’s first quarter this year, online orders overtook in-person sales for the first time.

But investors will be watching to see if executives address any of the looming threats to its recovery. Food prices are rising, which could put pressure on Chipotle’s profit margins. The company has already raised prices this year to pass along the cost of hiking workers’ wages. The delta variant is driving a rise in new Covid-19 cases across the United States, prompting Los Angeles County to require masks indoors regardless of vaccination status.

Last quarter, Chipotle declined to provide a sales outlook for the rest of the year, citing the uncertainty caused by the pandemic. If the company doesn’t experience significant construction delays, it’s planning on opening about 200 new restaurants in 2021.

Shares of Chipotle have risen 13% this year, giving the company a market value of $44 billion.

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