Chipotle Q3 Net Income Falls to $339.9 Million

Chipotle Mexican Grill delivered mixed third-quarter financial results on Wednesday. The fast-food chain reported lower profitability than expected while maintaining growth in sales at existing locations.

Adjusted earnings settled at 27 cents per share, a figure below the 29 cents anticipated by analysts surveyed by LSEG. Total revenue reached $3.29 billion, matching market consensus. Net income for the fiscal quarter stood at $339.9 million, down from $382.1 million in the same period last year.

Restaurant-level operating margins declined to 23.3 percent from 24.5 percent a year earlier. Net sales rose 9.6 percent to $3.29 billion, a gain driven primarily by new locations. The company opened 84 company-owned restaurants and five international licensee sites during the quarter.

Operational disruptions affected the period. In late July, the company noted softening sales as customers grew cautious about raw lettuce following cyclospora concerns, even though Chipotle’s supply was not linked to an outbreak. In August, the chain temporarily removed jalapenos from Minnesota locations after a potential salmonella link was identified.

Same-store sales increased 2.1 percent for the third straight quarter. This growth was supported by a 1.3 percent rise in average check size. The company maintained its full-year forecast for low single-digit same-store sales growth.

For 2027, Chipotle plans to open between 340 and 360 new company-owned restaurants in the U.S. and Canada. The company also expects to add roughly 15 to 25 international locations in the coming year.