Denver's Chipotle Tops 2Q Profit Forecasts
DENVER (AP) - Chipotle Mexican Grill Inc. (CMG) on Tuesday reported second-quarter net income of $140.2 million.
The Denver-based company said it had profit of $4.45 per share.
The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $4.41 per share.
The Mexican food chain posted revenue of $1.2 billion in the period, falling short of Street forecasts. Thirteen analysts surveyed by Zacks expected $1.22 billion.
Chipotle shares have declined 1 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 3 percent. In the final minutes of trading on Tuesday, shares hit $676, an increase of 14 percent in the last 12 months.
Additional Resources
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CMG at http://www.zacks.com/ap/CMG