Chipotle Falls About 9% After Hours Following Q2 Results
Chipotle Mexican Grill Inc. (NYSE:CMG) experienced a 9.81% drop during after-hours trading on Wednesday.
Check out how CMG stock is trading here.
What Happened: After Chipotle's second-quarter earnings report was released on Wednesday, the stock price of the fast-casual restaurant chain plummeted by 9.81% to $47.60.
Chipotle’s earnings per share (EPS) exceeded expectations by $0.01, but its revenue fell short of estimates. The company also adjusted its 2025 same-store sales forecast to be flat, which led to the stock price decline.
Why It Matters: Chipotle’s stock has been on the radar of investors and traders, with the company’s shares trading lower after it reported worse-than-expected second-quarter sales results. The company’s stock has been downgraded by Barclays PLC (LON: BARC) and upgraded by BMO Capital (TSE: BMO) in recent weeks.
The second-quarter earnings report showed a revenue of $3.06 billion, missing analyst estimates of $3.11 billion. The company’s adjusted EPS of $0.33 was in line with analyst estimates.
Despite the recent decline, Chipotle’s stock has outperformed the market over the past 15 years, producing an average annual return of 21.11%.
Price Action: According to Benzinga Pro data, CMG closed up at 0.76% to $52.78 on Wednesday.
Benzinga Edge Stock Rankings highlight strong Growth (90.62) and Quality (69.59) for the Chipotle Mexican stock. Here’s how the stock fares on other parameters.
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