Chipotle previews fourth-quarter results

|
News,Business

DENVER (AP) — In a preview of its financial results, Chipotle Mexican Grill Inc. says it expects to report a 17 percent increase in fourth-quarter revenue from the same period a year earlier.

Chipotle released preliminary unaudited results late Tuesday, a day before management planned to speak at a conference in Florida. It plans to release complete results Feb. 5.

The Denver-based restaurant chain said Tuesday it expects to report fourth-quarter revenue of about $699 million, diluted earnings per share of between $1.92 and $1.97, and a 3.8 percent increase in sales at its restaurants that have been open at least a year.

Co-CEO Monty Moran says food costs driven by underlying inflation increased faster than expected in the fourth quarter, but he's optimistic that food inflation will level off in 2013.

View article comments Leave a comment