Chipotle Announces Opening Of Its 500th Chipotlane Restaurant

UGI Corp. Reveals Drop In Q4 Income, but beats estimates

UGI Corp. (UGI) reported earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company’s earnings came in at $244 million, or $1.13 per share. This compares with $525 million, or $2.43 per share, in last year’s fourth quarter.

Analysts on average had expected the company to earn -$0.07 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 34.0% to $1.93 billion from $1.44 billion last year.

UGI Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $244 Mln. vs. $525 Mln. last year.
-EPS (Q4): $1.13 vs. $2.43 last year.
-Analyst Estimates: -$0.07
-Revenue (Q4): $1.93 Bln vs. $1.44 Bln last year.

European Economics Preview: UK Autumn Budget Statement Due

UK Chancellor of the Exchequer Jeremy Hunt is set to deliver his Autumn Statement on Thursday.

At 2.00 am ET, the European Automobile Manufacturers’ Association is slated to issue Europe’s passenger car registrations.

In the meantime, Swiss foreign trade data is due for October. The trade surplus totaled CHF 2.78 billion in September.

At 3.00 am ET, final consumer prices data from Statistics Austria is due.

At 4.00 am ET, Italy’s ISTAT releases foreign trade figures for September. The trade deficit was EUR 9.56 billion in August.

At 5.00 am ET, Eurostat is slated to release euro area final consumer prices for October. Inflation is expected to rise to a record 10.7 percent, as initially estimated, from 9.9 percent in September.

At 7.30 am ET, UK Chancellor Jeremy Hunt delivers the Autumn Statement to Parliament. The package is set to include major measures to stabilize public finances. He is likely to hike taxes and cut spending totaling around GBP 50 billion to fix the hole in the public finances.

Youdao Q3 Loss Widens

Youdao, Inc. (DAO), a technology-focused intelligent learning company, Thursday reported third-quarter loss, wider than the previous year, despite an increase in revenue.

The quarterly loss was RMB 183.92 million or RMB 1.49 per share, compared to loss of RMB 128.89 million or RMB 1.05 per share last year.

Revenue for the quarter increased to RMB 1.402 billion from RMB 1.039 billion a year ago.

The Company announced authorization for shar repurchase of up to $20 million of its Class A ordinary shares (including in the form of ADSs) during a period of up to 36 months.

Ross Stores Lifts Q4, FY22 Outlook

While reporting its results for the third quarter, Ross Stores Inc. (ROST) lifted its outlook for the fourth quarter and full year 2022.

For the fourth quarter, the company now expects earnings of $1.13 to $1.26 per share, up from prior outlook of $1.04 to $1.21 per share. The company now expects fourth-quarter same store sales to be flat to down 2%, this compares to previous outlook of same store sales to be down 4% to 7%.

Looking forward to full year 2022, the company now expects earnings per share of $4.21 to $4.34, up from previous outlook of $3.84 to $4.12per share.

Analysts polled by Thomson Reuters currently estimate earnings of $1.13 and $4.01 per share for the fourth-quarter and full year 2022, respectively.

Looking ahead, CEO Barbara Rentler said, “We continue to expect a very promotional holiday selling season and ongoing inflationary headwinds to pressure our low-to-moderate income customers. That said, we face our easiest sales and earnings comparisons in the fourth quarter and are raising our guidance given our third quarter sales momentum and improved holiday assortments.”

ROST closed Thursday’s trading at $97.93, up $1.43 or 1.48%, on the Nasdaq. The stock further gained $12.32 or 12.58% in the after-hours trading.

Griffon Corp. Q4 Earnings Summary

Below are the earnings highlights for Griffon Corp. (GFF):

Earnings: -$415.36 million in Q4 vs. $12.62 million in the same period last year.
EPS: -$8.00 in Q4 vs. $0.30 in the same period last year.
Excluding items, Griffon Corp. reported adjusted earnings of $59.66 million or $1.09 per share for the period.

Revenue: $708.94 million in Q4 vs. $570.20 million in the same period last year.

Denver metro area school closures for Nov. 18, 2022

On days with severe weather, school closures and government office closures will be updated throughout the day.

A status of “Other” means there is an early closing or some cancellations — check the website by clicking the name in the list.

To submit closure or delay information to The Denver Post, email [email protected]

Chipotle Announces Opening Of Its 500th Chipotlane Restaurant

Chipotle Mexican Grill (CMG) Thursday announced the opening of its 500th restaurant with a Chipotlane, the brand’s digital order drive thru pick-up lane.

The iconic 500th outlet is located in Louisville, Kentucky.

“We are thrilled to celebrate this landmark Chipotlane opening,” said Tabassum Zalotrawala, Chief Development Officer. “Chipotlanes are the digital drive thru of the future and a key piece of our growth strategy as we plan to more than double our restaurant count over the long term to achieve 7,000 restaurants or more in North America.”

The Chipotlane format was introduced in the U.S. in early 2018, giving guests and delivery drivers a fast and convenient experience. New restaurant openings that feature this digital order pick-up lane have demonstrated higher volumes and greater returns than a traditional Chipotle restaurant format.

In October 2021, Chipotle opened its first Chipotlane restaurant in Canada. Next year, the company plans to open between 255 to 285 new restaurants, with at least 80% including a Chipotlane.