Chipotle Mexican Grill Inc. (NYSE:CMG) reported higher profit for the third quarter as revenue showed growth. Net income for the restaurant rose to $60.4 million ($1.90 per share) vs. $48.2 million ($1.52 per share) in the same quarter a year earlier. This marks a rise of 25.3% from the year earlier quarter. Revenue rose 24.1% to $591.9 million from the year earlier quarter. CMG beat the mean analyst estimate of $1.85 per share. Analysts were expecting revenue of $582.8 million.
“Chipotle’s strong performance in the quarter and throughout the year is the result of our strong food culture, where we are constantly striving for more sustainable sources for all of our ingredients; and our special people culture, where top performers throughout the company are creating an extraordinary dining experience for each customer,” said Steve Ells, Founder, Chairman and Co-CEO of Chipotle.
Competitors to Watch: McDonald’s Corporation (NYSE:MCD), Good Times Restaurants Inc. (NASDAQ:GTIMD), Carrols Restaurant Group, Inc. (NASDAQ:TAST), Tim Hortons Inc. (NYSE:THI), Yum! Brands, Inc. (NYSE:YUM), Jack in the Box Inc. (NASDAQ:JACK), Panera Bread Company (NASDAQ:PNRA), Nathan’s Famous, Inc. (NASDAQ:NATH), Wendy’s Arby’s Group Inc. (NYSE:WEN), Starbucks Corporation (NASDAQ:SBUX), Sonic Corporation (NASDAQ:SONC) and Darden Restaurants (NYSE:DRI).
Buffalo Wild Wings, Inc. (NASDAQ:BWLD) reported net income above Wall Street’s expectations for the third quarter. Net income for the restaurant rose to $11.3 million (61 cents per share) vs. $8.5 million (47 cents per share) in the same quarter a year earlier. This marks a rise of 32.5% from the year earlier quarter. Revenue rose 30.7% to $197.8 million from the year earlier quarter. BWLD beat the mean analyst estimate of 58 cents per share. It beat the average revenue estimate of $190.3 million.
“Net earnings increased 32.5% to $11.3 million from $8.5 million, and earnings per diluted share increased 29.8% to $0.61 from $0.47 Sally Smith, President and Chief Executive Officer, commented, “Demand for the Buffalo Wild Wings brand is apparent in our strong same-store sales for the third quarter, with an increase of 5.7% at company-owned restaurants and 4.2% at franchised locations. Unit growth and strong sales in our new and existing restaurants combined to achieve a substantial increase in revenue of 30.7%. We leveraged this revenue growth to accomplish net earnings growth of over 32%, providing our shareholders with earnings per diluted share of $0.61.”
Competitors to Watch: Landry’s Restaurants, Inc (LNY), Ark Restaurants Corp. (NASDAQ:ARKR), Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB), Brinker Intl., Inc. (NYSE:EAT), O’Charley’s Inc. (NASDAQ:CHUX), Flanigan’s Enterprises, Inc. (AMEX:BDL), California Pizza Kitchen, Inc. (NASDAQ:CPKI), BJ’s Restaurants, Inc. (NASDAQ:BJRI), Benihana Inc. (NASDAQ:BNHNA), and P.F. Chang’s China Bistro (NASDAQ:PFCB).