Chipotle Mexican Grill Inc.'s (CMG) fourth-quarter net income climbed 62% as the company continued double-digit percentage same-store sales growth.
But its shares fell 14% in after-hours trading as the results failed to meet Wall Street expectations.
The burrito restaurant chain reported net income of $17.5 million, or 53 cents a share, up from $10.8 million, or 33 cents a share, a year earlier. Results included a 1-cent tax charge.
Revenue jumped 31% to $288.9 million. Same-store sales grew 10.6% on an increase in customer visits.
Analysts' mean estimates were for earnings of 55 cents a share on revenue of $289 million, according to a poll by Thomson Financial.
So....they missed by a penny and they sell the stock off 15%.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment