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.
Click here to read more.
Source: USA Today
Latest from Quality Assurance & Food Safety
- USDA Indefinitely Delays Salmonella Testing Program for Raw Breaded Stuffed Chicken
- American Soybean Association Names New Industry Relations Leadership
- Babybel Transitions From Cellophane to Paper Packaging
- Ambriola Company Recalls Cheese Products Due to Listeria Risk
- Horizon Family Brands Acquires Maple Hill Creamery
- Kellanova Shares Top Five Consumer Packaged Goods Tech Trends Shaping 2026
- Stay Ahead of Supply Chain Pressure
- Brendan Niemira Named IFT Chief Science and Technology Officer
