Chipotle Mexican Grill reported Tuesday afternoon that it recorded $1.07 billion in first quarter fiscal 2017 revenue, a 28.1% jump over revenue recorded in the year-ago period and a figure that edged above the $1.05 billion Wall Street consensus.
On a comparable store basis, sales jumped 17.8% during the quarter, beating the Consensus Metrix estimate of 15.5% growth.
The figure did come in below the estimate from data shop M Science — which uses information from nearly three dozen different data sources, including satellite imagery, email receipts and point-of-sale software — which earlier this week predicted that Chipotle’s first quarter same store sales grew 19%.
The 17.8% comp store result marks the first positive same-store sales figures since the e-coli and norovirus outbreaks of 2015 slammed the company’s sales, profit and stock performance, and in a call with analysts and investors Tuesday afternoon, CEO Steve Ells attributed the growth to “continuing simplification of operations, a relentless focus on guest experience..
On the bottom line, too, Chipotle showed improvement: first quarter net income came in at $46.1 million, up from a $26.4 million loss in the year-ago quarter.