Chipotle earnings miss estimates, but same-store sales increase for third straight quarter

Chipotle Mexican Grill released its fiscal third-quarter financial results, posting earnings that fell short of Wall Street projections despite some positive operational metrics. The company reported net income of $339.9 million, or 27 cents per share, representing a decline from $382.1 million, or 29 cents per share, in the prior-year period. The restaurant-level operating margin contracted to 23.3% from 24.5% year-over-year.
Total net sales increased 9.6% to $3.29 billion, driven primarily by