Chipotle Mexican Grill (NYSE: CMG) reported fourth-quarter 2020 financial results after the regular market hours on Tuesday. The restaurant chain reported fourth-quarter revenue of $1.6 billion, up 12% year-over-year, but missed the Wall Street projection. Net income of $3.48 per share was also lower than what analysts had anticipated.
CMG shares fell 3.8% immediately following the announcement. The stock has rallied 76% in the trailing twelve months.
CEO Brian Niccol said in a statement, “Expanding access and convenience through our digital ecosystem has kept the Chipotle brand relevant and with world class talent, an inclusive culture, strong business fundamentals and deep financial strength, we are well prepared to emerge even stronger post-COVID.”