Chipotle shares down more than 6% after quarterly results

NEW YORK (MarketWatch) — Chipotle Mexican Grill Inc. shares CMG, +1.98% fell more than 5% in after-hours trade Tuesday, after the company reported its fourth-quarter earnings. The fast-casual chain said it had net income of $ 121.2 million, or $ 3.84 a share, in the quarter, up from $ 79.6 million. or $ 2.53 a share, in the year-earlier period. Revenue climbed 26.7% to $ 1.07 billion. The FactSet consensus was for per-share earnings of $ 3.79 and revenue of $ 1.075 billion. Same-store sales rose 16.1%. The company said food costs climbed 110 basis points to account for 35% of revenue, driven by higher dairy and beef costs. Looking ahead, the company said it expects same-store sales for 2015 to rise in the low to mid-single digits. The company is planning to open 190 to 205 new restaurants in the year. Shares have climbed 13.8% in the last three months, while the S&P 500 has gained 1.6%.


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