Chipotle Shares Drop As Earnings Dented By E. Coli Outbreak

By MarketWatch Pulse

Shares of Chipotle Mexican Grill Inc. slid in Tuesday's extended trade after the company posted earnings for a quarter which it described as the "most challenging" in its history following an E. coli outbreak at several of its stores. The Mexican-style fast-food chain reported its fourth-quarter earnings nearly halved to $67.9 million, or $2.17 a share, from $120.2 million, or $3.84 a share, in the same quarter last year. Revenue dropped 6.8% to $997.5 million. Analysts surveyed by FactSet had forecast earnings of $1.86 a share on revenue of $1 billion. Same-store sales, a key metric for retailers, sank 14.6% in the quarter. Chipotle shares declined 2% in the after-hours session.

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