Chipotle Mexican Grill (CMG) Misses Q3 EPS by 17c
Chipotle Mexican Grill (NYSE: CMG) reported Q3 EPS of $1.46, ex-items, $0.17 worse than the analyst estimate of $1.63. Revenue for the quarter came in at $1.13 billion versus the consensus estimate of $1.14 billion.
Comparable restaurant sales increased 1.0%.
“We continued to make important progress to improve the guest experience at our restaurants during the quarter,” said Steve Ells, founder, Chairman and CEO of Chipotle. “Our strategic initiatives in operations, innovating our digital sales platform, new menu introductions, and marketing the brand are starting to take hold. Despite several unusual impacts during the quarter, including the impact of hurricanes, we maintained our focus and saw some encouraging signs. Our leadership remains focused on setting the foundation for future growth, and we are confident in our teams’ ability to deliver against those plans.”
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