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Chipotle shares are getting crushed

Akin Oyedele   

Chipotle shares are getting crushed
Stock Market1 min read

Chipotle shares are falling in early trading after the company reported disappointing sales on Tuesday.

The stock fell by more than 5% early Wednesday to as low as $650.05 per share.

Year-to-date, shares are down 4%.

In the first quarter, same-store sales rose 10.4%, missing expectations for growth of 11.8%.

Earnings per share came in at $3.88 on revenue of $1.09 billion; analysts were expecting EPS of $3.65 on revenue of $1.1 billion.

Chipotle CEO Steve Ells said that because the company cannot find enough pork suppliers that meet its standards, there will continue to be a shortfall.

If everything goes to plan, carnitas will be back in full supply by the fourth quarter, he said.

Here's the price action in the stock over the last few days:

Screen Shot 2015 04 22 at 9.50.40 AM

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