Chipotle Stock Slides After Q3 Revenues Miss Estimates: Details

Benzinga

Chipotle shares fell 5% in after-hours trading after missing Q3 revenue estimates, reporting $3 billion versus $3.02 billion expected. Earnings met forecasts at $0.29 per share, while margins narrowed slightly. CEO Scott Boatwright said the brand remains strong despite macroeconomic headwinds.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Chipotle Mexican Grocery fell 5.06% in extending trading on Wednesday

00:06after the company missed third-quarter revenue expectations, according to Benzinga.

00:11Chipotle reported earnings of 29 cents per share, in line with analyst forecasts,

00:15according to the revenue of $3 billion, slightly below the $3.02 billion estimate.

00:20Revenue rose 7.5% year-over-year, while comparable restaurant sales increased 0.3%.

00:24Operating margins slipped to 15.9% from 16.9%.

00:29Restaurant-level operating margin declined to 24.5%.

00:33The company opened 84 new restaurants during the quarter, including 64 with Chipotle's.

00:37CEO Scott Boatwright cited persistent macroeconomic pressures,

00:41but highlighted the brand's continued strength and value proposition.

00:44For all things money, visit Benzinga.com.

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