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Chipotle (CMG) reported first-quarter revenue that missed Wall Street's expectations and lowered its full-year sales outlook, sending shares lower in extended trading Wednesday.
The fast-casual chain reported revenue of $2.88 billion, up 6.4% year-over-year but slightly below the analyst consensus from Visible Alpha. Net income of $396.8 million, or 29 cents per share, compared to $369.3 million, or 27 cents per share, a year earlier, topping Wall Street’s estimates. Comparable sales declined 0.4%, missing projections.
Chipotle said it now expects comparable sales growth for the full year in the low-single digit range, down from its previous estimate of low- to mid-single digit growth. Analysts had called for 3.1% growth.
CEO Scott Boatwright said the company's results were "impacted by several headwinds including weather and a slowdown in consumer spending."
On Monday, Chipotle said it plans to open its first location in Mexico by early 2026 and explore expanding to additional markets. The company operates about 3,600 locations in the U.S., 58 in Canada, and five in the Middle East.
Chipotle shares fell more than 3% in after-hours trading. The stock has lost about a fifth of its value so far in 2025 through Wednesday’s close.
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