NEWPORT BEACH, Calif. (AP) _ Chipotle Mexican Grill Inc. (CMG) on Wednesday reported second-quarter earnings of $8.2 million.
On a per-share basis, the Newport Beach, California-based company said it had net income of 29 cents. Earnings, adjusted for non-recurring costs, were 40 cents per share.
The results did not meet Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.
The Mexican food chain posted revenue of $1.36 billion in the period, topping Street forecasts. Fourteen analysts surveyed by Zacks expected $1.33 billion.
Chipotle shares have risen 41% since the beginning of the year, while the Standard & Poor's 500 index has climbed slightly more than 1%. In the final minutes of trading on Wednesday, shares hit $1,183.66, an increase of 59% in the last 12 months.