New York, February 2 (FinanceEnquiry.com) - Chipotle Mexican Grill (NYSE: CMG) reported that its fourth-quarter earnings soared 23.7 percent to $57.5 million or $1.81 a share against analysts’ expectations of $1.83 a share. It also reported revenue of $596.7 million, up 23.7 percent. The company's earnings for 2011 rose 20.1 percent to $214.9 percent or $6.76 a share, and its revenue for the year was up 23.6 percent to $$2.27 billion.

In the latest quarter, food costs went up to $191 million due to higher commodity costs. Chipotle plans to open 155-165 new restaurants in 2012. It is also planning to experience comparable restaurant sales growth in the mid-single digits. An analyst said that the real problem before Chipotle will be to find the right real estate at the right time and at the right cost. It could also face entrenched competition when it enters new markets.
 
Chipotle’s fourth-quarter earnings were short of analysts’ expectations and its stock went down slightly in after-market trading, dropping from its record high of $370.41 to $364.50. In comparison, McDonald’s profits rose 11 percent to $1.3 billion and its revenue rose 10 percent to $6.8 billion in the fourth quarter. Its stock hovered around $98.40. Yum Brands’ results will be known next week and its stock remained at $64.18.