Shares of Chipotle Mexican Grill Inc. fell after hours on Tuesday after the fast-casual Mexican chain reported fourth-quarter results that missed expectations.
Shares of Chipotle Mexican Grill Inc. fell in late trading Tuesday after the fast-casual Mexican chain missed expectations for holiday earnings amid “tightening” consumer spending and more expensive burritos.
The results mark only the second time in five years that Chipotle CMG reported earnings per share that came up short of Wall Street’s expectations. The last time that happened was the same quarter in 2020. “With consumer discretionary spending tightening, we are focused on running great restaurants and delivering excellent customer and employee experiences,” Chief Executive Brian Niccol said in a statement.
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