Chipotle Mexican Grill, Inc. (NYSE:CMG) shares trading lower on Wednesday after the company reported mixed 2024 fiscal-year fourth-quarter earnings on Tuesday after the market closed.

What To Know: Chipotle reported quarterly sales of $2.845 billion, missing analysts estimate of $2.847 billion, but representing a 13.1% year-over-year growth. In addition, the company reported adjusted earnings per share of 25 cents, beating analysts estimate of 24 cents.

Furthermore, Chipotle reported a 5.4% increase in comparable restaurant sales and reported an operating margin of 14.6%. Restaurant-level operating margin decreased from 25.4% for the same period last year to 24.8%.

The company said that during the fourth quarter it opened 119 new restaurants, 95 of which included a Chipotlane. Additionally, the company repurchased $331.3 million worth of stock at an average price of $59.83 throughout the fourth quarter.

“Chipotle had another outstanding year, delivering strong transaction-driven comps each quarter, expanding margins, adding over 300 new restaurants, gaining momentum in key industry leading brand metrics, making progress on many restaurant operating initiatives and building our footprint internationally,” said Scott Boatwright, CEO, Chipotle.

Analyst Changes: Following the earnings report, several analysts issued price target adjustments.

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CMG Price Action: At the time of writing, Chipotle shares are trading 2.51% lower at $57.54, according to data from Benzinga Pro.

Image: Courtesy of Chipotle