Newport Beach, California-based Chipotle Mexican Grill, Inc. (CMG) operates quick-casual and fresh Mexican food restaurant chains. Its offerings include burritos, quesadillas, tacos, salads, and more. With a market cap of $78.5 billion, Chipotle’s operations span the U.S., Canada, France, Germany, Dubai, and the U.K.

The restaurant giant is expected to announce its second-quarter results on Wednesday, Jul. 23. Ahead of the event, analysts expect CMG to deliver an EPS of $0.32, down 5.9% from $0.34 reported in the year-ago quarter. On a more positive note, the company has a solid earnings surprise history. Chipotle has surpassed the Street’s bottom-line estimates in each of the past four quarters.

For the full fiscal 2025, analysts expect CMG to deliver earnings of $1.21 per share, up 8% from $1.12 reported in 2024. While in fiscal 2026, its earnings are expected to surge 18.2% year-over-year to $1.43 per share.

CMG stock has dropped 7.5% over the past 52-week period, significantly underperforming the Consumer Discretionary Select Sector SPDR Fund’s (XLY) 17.9% surge and the S&P 500 Index’s ($SPX) 13% gains during the same time frame.

Chipotle’s stock prices rose 1.6% in the trading session following the release of its mixed Q1 results on Apr. 23. The company’s comparable sales for the quarter dropped by about 40 bps, due to a 2.3% decline in transactions, which was partly offset by an increase in average bills. Its overall revenues increased 6.4% year-over-year to $2.9 billion, driven by contributions from new restaurant openings, and this figure missed the Street’s expectations by 1.5%.

However, driven by a slight improvement in margins, Chipotle’s adjusted net income for the quarter increased 7.5% year-over-year to $396.8 million, and its adjusted EPS of $0.39 surpassed the consensus estimates by 3.6%.

The consensus opinion on CMG stock remains a “Moderate Buy.” Of the 31 analysts covering the stock, opinions include 19 “Strong Buys,” three “Moderate Buys,” and nine “Holds.” As of writing, the stock is trading slightly below its mean price target of $58.81.