Chipotle Mexican Grill Inc. (CMG) rose 11.4% to close at $585.78 in Thursday's trading after the burrito chain posted adjusted fourth-quarter earnings that beat analysts' estimates.
Chipotle earned $1.72 a share on an adjusted basis with revenue rising 10% to $1.2 billion. Analysts had called for adjusted earnings of $1.40 a share on sales of $1.2 billion.
Same-restaurant sales rose 6.1% in the quarter vs. analysts' expectations of an increase of 4.5%. Chipotle said it expects comparable-restaurant sales growth in the mid-single digit range in 2019.
"I'm very pleased to report strong fourth quarter results with 6.1% comparable restaurant sales growth that included 2% transaction growth," said CEO Brian Niccol. "For the full year, Chipotle's average unit volumes exceeded $2 million with digital sales surpassing half a billion dollars."
Digital sales in the quarter rose 65.6% to account for nearly 13% of all sales.
Chipotle said it plans for 140 to 155 new restaurants in 2019.
The company's board also approved a buyback of an $100 million of stock.