Chipotle Reports Third Consecutive Quarter of Comparable-Store Sales Growth

Chipotle Mexican Grill reported its third consecutive quarter of comparable-store sales growth for the period ended September 30, 2026. The company reported net sales of $3.29 billion, a 9.6% increase, while adjusted earnings per share (EPS) was 27 cents, compared to 29 cents a year earlier.

Sales and Growth Drivers

According to reports from CNBC and The Motley Fool, the company's third-quarter comparable-store sales increased by 2.1%. This growth was supported by a 1.3% increase in average check. Chipotle also reported that its loyalty program has reached 24 million active members as of September 2026, accounting for over one-third of the company's total sales.

CEO Scott Boatwright stated during an earnings call, “Broader consumer and industry headwinds may continue, but initiatives across our recipe for growth strategy are building and giving us more tools to win in any environment.” Boatwright also noted that for the first time this year, low-income consumers outperformed the high-income cohort at the company's restaurants.

Financial and Operational Metrics

While revenue increased, the company's restaurant-level operating margin fell to 23.3%, down from 24.5% a year earlier. The company attributed this to pressures from wage inflation, higher labor usage, and increased prices. To address these factors, Chipotle plans to raise prices by 3% in the fourth quarter.

During the third quarter, Chipotle opened 84 company-owned restaurants and five international locations run by licensees.

Future Outlook

Chipotle expects comparable-store sales momentum to pick up in the fourth quarter. Chief Financial Officer Adam Rymer stated the company expects fourth-quarter same-store sales growth of about 2%. The company is looking for an exit rate for the year of approximately 3% to 4%.

Looking toward 2027, the company projects it will open between 340 and 360 new company-owned locations in the U.S. and Canada, along with 15 to 25 international restaurants.

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Sources

• finance.yahoo.com: Should Investors Buy Into the Chipotle Turnaround?
• cnbc.com: Chipotle Mexican Grill (CMG) Q3 2026 earnings
• the-independent.com: Chipotle overhauled its rewards program - and it looks like it’s working | The Independent

This article was drafted with AI assistance and checked against the sources above. Company claims are reported as claims. Cover image is AI-generated.