The depth of the damage from Chipotle Mexican Grill's food safety scare showed up in yet another quarterly earnings on Oct. 25, in which net income fell 95% and missed estimates compared to the same quarter in its high-flying days a year ago, USA Today reports.
The Denver-based company reported third-quarter net income of $7.8 million, a dramatic fall from $144.9 million a year ago. Per-share earnings totaled 27 cents, compared with $4.59 a year ago. That was well short of the $1.60 estimated by analysts polled by S&P Global Market Intelligence.
Revenue sank 14.8% year-over-year to $1 billion during the quarter despite even though the fast-casual dining chain opened 54 new restaurants with only one closing.
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Source: USA Today
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