Considering the quarter Chipotle had — more health scares, lukewarm Queso — this would have made us plenty happy.
— Jason Clampet
Chipotle Mexican Grill Inc. (CMG) on Tuesday reported third-quarter profit of $19.6 million.
The Denver-based company said it had net income of 69 cents per share. Earnings, adjusted for non-recurring costs, came to $1.33 per share.
The results missed Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of $1.56 per share.
The Mexican food chain posted revenue of $1.13 billion in the period, which matched Street forecasts.
Chipotle shares have dropped 14 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 15 percent. In the final minutes of trading on Tuesday, shares hit $324.29, a decrease of 22 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research.