Chipotle’s fourth quarter results are out, and the numbers are mostly in-line with expectations, though same-store sales came in below expectations.
In after hours trade following the results, shares of the Mexican food chain were down as much as 7%.
In the fourth quarter:
- Earnings per share totaled $US3.84.
- Same-store sales rose 16.1%.
- Revenue totaled $US1.07 billion.
The company also opened 60 new restaurants in the quarter.
Chipotle said that in the fourth quarter, food costs totaled 35% of revenues, up 1.1% due to the increased costs of dairy and beef products. Chipotle also announced plans to repurchase $US100 million worth of its common stock.
In 2015, the company expects to open 190-205 new restaurants and expects same-store sales to rise by low- to mid-single digits.
Here is what Wall Street was looking for:
- Earnings per share: $US3.79
- Revenue: $US1.074 billion
- Same-store sales: +16.5%
- New locations: +63