Chipotle's Stock Plunges 18% On Lowered Guidance
Chipotle Mexican Grill's (CMG) stock is down 18% after the company lowered its same-store sales guidance for the third consecutive quarter.
The company reported earnings per share (EPS) of $0.29, in line with Wall Street's expectations, but short of the $3.03 billion consensus estimate.
Chipotle expects its full-year same-store sales to shrink by a low-single digit percentage in 2025, a significant change from earlier projections of low- to mid-single digit growth.
- Traffic at Chipotle's stores fell 0.8% in the latest quarter, the third consecutive quarter of declines.
- Management cited "consistent macroeconomic pressures" in the company's earnings release.
Management said they are seeing "consistent macroeconomic pressures."
Author's summary: Chipotle's stock drops 18% due to lowered guidance.
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