- CNBC's Jim Cramer heralded Chipotle CEO Brian Nicoll after the company's shares popped more than 11% on Wednesday.
- Chipotle reported a big earnings beat after the close Tuesday, including revenues that topped 2019 levels.
- "We always hear about these executives who say a crisis is a terrible thing to waste. Most of the time they're just blowing smoke. Not Chipotle. Chipotle delivered," Cramer said.
Chipotle shares managed to pop double digits Wednesday because of the restaurant chain's culture, CNBC's Jim Cramer said.
"This company has an extraordinary culture of customer-centric innovation, and that culture has been turbocharged since they hired Brian Nicoll as CEO when Chipotle's stock was languishing the $200s after a series of health scares," the "Mad Money" host said.
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The comments come after the stock closed at $1,755.99, jumping more than 11% after Chipotle reported a big earnings beat in the second quarter on revenues that topped pre-pandemic levels.
The surge came alongside gains in major U.S. stock averages as Wall Street continued to bounce back from a big plunge on Monday.
Cramer highlighted how the company embraced technology to boost digital ordering, leaned on food delivery and capitalized on their modernized drive-thru lanes called "Chipotlane" amid Covid-19 lockdowns to sustain the business.
Money Report
"We always hear about these executives who say a crisis is a terrible thing to waste. Most of the time they're just blowing smoke. Not Chipotle. Chipotle delivered," Cramer said.
"The most important thing is that, unlike nearly every company I follow, Chipotle held on to its digital gains after the great re-opening."
Chipotle posted $1.89 billion of revenue last quarter, up nearly 39% from a year ago and about 32% higher than the same quarter in 2019.
The company also doubled its second-quarter profit from 2019, reporting $188 million on the bottom line compared to $91 million two years ago.
Shares of Chipotle are up more than 26% after setting a record close.
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