Chipotle continues to go on a tear, hitting a sales record
Hey it might not be the kind of AI stock investors are all hot and bothered over, but don’t sleep on the burrito business.
Chipotle posted much better-than-expected results on Wednesday, with sales rising 14% to a record $2.70B in the first quarter, which is like a billion additions of guac.
Profits jumped 23% to $359M.
Chipotle has quietly cruised higher over the last year. It’s up 63%, compared to the 24.5% gain for the S&P 500 over the 12 months through Wednesday’s close. Not bad for a rice-and-beans based business model.