Chipotle Mexican Grill reported weaker-than-expected revenue in the first quarter as same-store sales declined, missing StreetAccount estimates, according to CNBC. Executives cited economic uncertainty and delayed “burrito season” demand, exacerbated by bad weather and a drop in foot traffic. Revenue came in below forecasts at $2.88 billion, while adjusted EPS hit 29 cents, beating forecasts by a penny. The company lowered its full-year same-store sales growth forecast to the low single digits and warned of higher second-quarter costs from tariffs on aluminum and avocado imports. Shares fell over 2% after hours following a 3.5% gain during regular trading.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Chipotle Mexican Grill reported weaker than expected revenue in the first quarter
00:06as same-store sales declined, missing street account estimates, according to CNBC.
00:11Decutives cited economic uncertainty and delayed burrito season demand,
00:15exacerbated by bad weather and a drop in foot traffic.
00:18Revenue came in below forecasts at $2.88 billion,
00:21while adjusted EPS at 29 cents, beating forecasts by a penny.
00:25The company lowered its full-year same-store sales growth forecast
00:27to the lowest single digits and warned of higher second-quarter costs
00:31from tariffs on aluminum and avocado imports.
00:34Shares fell over 2% after hours, following a 3.5% gain during regular trading.
00:38For all things money, visit Benzinga.com slash GSTV.