Holy Guac Chipotle Shares Socked
Chipotle investors feel like they’ve received a bowl of guac without the chips to eat it with. That’s because its quarterly earnings beat expectations, but sales missed. That starkly contrasts the stock’s post-earnings gap that sent shares to all-time highs in May. 😬
Today the fast-casual restaurant chain reported $12.65 in adjusted earnings per share on $2.51 billion in revenues. Analysts had expected $12.31 and $2.53 billion in revenues. With that said, same-store sales of 7.4% were 0.1 percentage points shy of expectations. 🔻