The reaction to the Q2 earnings season continues after Chipotle (CMG) posted results. The firm’s stock will add around 4% this morning after reporting earnings per share of $0.34 (non-GAAP). Revenue increased by 18.3% Y/Y to $2.97 billion.
These are the Winners
For the year, Chipotle expects comparable restaurant sales to increase in the mid- to high-single-digit range. CMG is an expensive stock but has the momentum to rise from here.
In Canada, Celestica (CLS) will erase yesterday’s sell-off after posting a $0.91 EPS. Revenue increased by 23.2% Y/Y to $2.39 billion. The firm supplies valuable support to customers building AI solutions. CEO Rob Mionis said that the strong performance in the first half of the year will have momentum for the rest of the year. As a result, the firm is raising its full-year outlook.
Celestica expects to achieve revenue of $9.45 billion and non-IFRS adjusted EPS of $3.62 in 2024.
NextEra (NEE) is a good buy after posting non-GAAP EPS of $0.96. Revenue fell by 17.4% Y/Y to $6.07 billion. Still, the firm will grow its dividends per share by around 10% annually through at least 2026.
Enphase (ENPH) is another winner, after rising by 12.8% on Wednesday. The stock should trade at higher prices by next year.