DENVER (AP) -- Chipotle Mexican Grill Inc. (CMG) on Tuesday reported third-quarter profit of $7.8 million.
On a per-share basis, the Denver-based company said it had profit of 27 cents. Earnings, adjusted for asset impairment costs and non-recurring costs, came to 79 cents per share.
The results did not meet Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.58 per share.
The Mexican food chain posted revenue of $1.04 billion in the period, also falling short of Street forecasts. Eleven analysts surveyed by Zacks expected $1.09 billion.
Chipotle shares have fallen 15 percent since the beginning of the year, while the Standard & Poor's 500 index has risen almost 5 percent. In the final minutes of trading on Tuesday, shares hit $405.67, a decrease of 39 percent in the last 12 months.