Chipotle shares are trading lower after the company missed Q2 revenue estimates and said the benefit from menu price hikes was partially offset by elevated costs in certain ingredients.
Portfolio Pulse from Bill Haddad
Chipotle's Q2 revenue fell short of estimates, with the company stating that the benefits from menu price increases were partially offset by higher costs for certain ingredients. This has led to a decrease in the company's share price.
July 26, 2023 | 9:39 pm
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Chipotle's shares are trading lower due to missed Q2 revenue estimates and increased costs for certain ingredients, despite menu price hikes.
Chipotle's Q2 revenue missed estimates, which is a negative signal to investors. Additionally, the company's increased costs for certain ingredients, despite menu price hikes, indicate potential margin pressures. These factors are likely to negatively impact the company's share price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100