Chipotle Mexican Grill sign outside the chain’s restaurant in the Mission Rock development, San Francisco, California, October 15, 2026. (
Smith Collection/gado | Archive Photos | Getty Images
Chipotle Mexican Grill on Wednesday reported mixed quarterly results as its restaurant-level operating margin shrank.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
- Earnings per share: 27 cents adjusted vs. 29 cents expected
- Revenue: $3.29 billion vs. $3.29 billion expected
Chipotle reported fiscal third-quarter net income of $339.9 million, or 27 cents per share, down from $382.1 million, or 29 cents per share, a year earlier. The company’s restaurant-level operating margin fell from 24.5% to 23.3%.
Excluding restaurant asset impairment charges and stock-based compensation, the company earned 27 cents per share.
Net sales rose 9.6% to $3.29 billion, fueled by the chain’s new restaurants. During the quarter, Chipotle opened 84 company-owned restaurants and five international locations run by licensees.
In the second half of July, Chipotle said it started to see sales pull back as diners grew concerned about consuming raw lettuce due to cyclospora, although its own supply was never tied to an outbreak. Then in August, the chain disclosed that it had temporarily pulled jalapenos from Minnesota restaurants after learning its supply was potentially linked to a salmonella outbreak.
Still, the chain was able to report same-store sales growth for its third straight quarter, shaking off last year’s traffic woes.
Sales at stores open at least 13 months increased 2.1%, lifted by a 1.3% bump in average check.
For the full year, Chipotle reiterated its previous forecast that its same-store sales will increase by a low single digit percentage. Looking ahead to 2027, the company is projecting that it will open between 340 and 360 new company-owned locations in the U.S. and Canada and around 15 to 25 international restaurants.
