Tour de earnings

🌯 Chipotle shares tanked 18.18% today after the fast-casual chain slashed its full-year forecast for same-store sales for the third quarter in a row. That wasn’t the only news that left a bad taste in investors’ mouths: Management said that the company was also dealing with declining traffic because young people can no longer afford their beloved burrito bowls. The pros aren’t optimistic about a comeback, either: At least five analysts have cut their price targets since Chipotle reported earnings, according to CNBC.

• EPS: $0.29 adjusted, matching expectations
• Revenue: $3 billion, below forecasts of $3.03 billion

🚗 Carvana shares dipped 13.78% today even as revenue rolled in above forecasts for the third straight quarter, driven by a 44% surge in car sales. But even though net income more than doubled from a year ago, earnings still came in below expectations—a letdown for a stock that’s rallied in 2025. Some of the drop may be chalked up to profit-taking, but broader worries about the auto industry’s health, including recent bankruptcies and pressure from inflation, also weighed on sentiment.

• EPS: $1.50 adjusted beat $1.30 expected
• Revenue: $5.65 billion, surpassing forecasts of $5.1 billion

🛒 eBay shares fell 15.88% today despite strong third-quarter results. The drop followed a weaker-than-expected fourth-quarter forecast, typically the busiest season for retailers: eBay projected adjusted earnings of $1.31 to $1.36 per share, just below the $1.39 analysts were expecting. Adding to investor concerns, CFO Peggy Alford pointed to stricter customs rules, including the removal of the de minimis exemption, as key challenges for international small businesses.

• EPS: $1.36 adjusted, vs $1.33 expected
• Revenue: $2.82 billion beat forecasts of $2.73 billion