Chipotle Profit Trails Analysts’ Estimates as Costs Rise
This article is for subscribers only.
Chipotle Mexican Grill Inc., the burrito chain whose share price has more than doubled in the past year, reported second-quarter profit that trailed analysts’ estimates as food costs gained.
Net income rose 9 percent to $50.7 million, or $1.59 a share, from $46.5 million, or $1.46, a year earlier, the Denver- based company said in a statement today. The average of 21 analysts’ estimates compiled by Bloomberg was for profit of $1.67.