Chipotle Posts $3.3 Billion in Revenue, Up 9.6% in Third Quarter
Key Facts
Chipotle Mexican Grill reported third-quarter 2026 revenue of $3.3 billion, up 9.6% from the same period in 2025, according to a company statement dated October 28. The company attributed revenue growth to new restaurant openings, followed to a lesser extent by comparable sales growth. Comparable restaurant sales rose 2.1% during the quarter, indicating that expansion contributed to revenue growth alongside improved activity at existing restaurants. But comparable sales growth was below total revenue growth, highlighting the role of new locations in driving the quarterly result. The company kept its 2026 outlook for comparable sales growth in the low single digits.
Comparable sales growth comprised a 1.3% increase in the average check and a 0.8% rise in transactions, according to Chipotle's statement. Average check growth therefore outpaced transaction growth, while both contributed to the overall 2.1% increase. The indicators show that improved sales did not rely solely on more visits, but also included a higher average check. The company, meanwhile, maintained its estimate for full-year comparable sales growth in the low single digits, placing the quarter's performance in the context of its guidance for the rest of the year. The guidance announced did not change the range the company had expected for 2026.
Food, beverage and packaging costs fell to 29.5% of revenue in the third quarter, compared with 30.0% in the same period of 2025, the company said. Chipotle said the improvement was primarily tied to price increases, the easing impact of tariffs and the mix of limited-time offerings. This was partly offset by cost inflation, particularly in beef and freight, as well as higher protein usage. The decline in these costs as a share of revenue indicates improvement in this line item from a year earlier, while the input pressures cited by the company remained among the factors affecting the quarter. The available figures in the statement did not provide a separate amount for the impact of each factor.
On expansion, Chipotle expects to open 350 to 370 new restaurants during 2026, according to its statement. The total includes 10 to 15 restaurants operated by international partners, making the planned openings part of a growth plan beyond the existing restaurant base. The forecast comes alongside the company's decision to keep its full-year comparable sales growth range in the low single digits. The company had attributed most of its quarterly revenue increase to new restaurant openings, linking the expansion plan to one of the growth drivers reflected in the quarter's results. The available information in the statement did not specify the timing of the expected openings during the year.
In U.S. economic data, new orders for durable goods rose 1.8% in September to $345.4 billion, after a revised increase of 0.1% in August, when they totaled $339.1 billion, according to the U.S. Census Bureau. The bureau said transportation equipment led the increase, adding that the value of orders rose $6.3 billion during the month. The September reading puts the increase above the revised gain recorded in August, with transportation identified as the driver of the improvement. The bureau set November 3 for publication of the full September report and November 25 for the advance report on October. This data is separate from Chipotle's results and is not part of the company's quarterly performance.
Chipotle shares closed at $27.98 on October 27, 2026, according to EL7 data. The closing date precedes the results announcement in the company's statement dated October 28, so the price does not reflect the stock's movement after the results were published. In a separate announcement, Ford said it reported third-quarter results on October 28 and declared a regular quarterly dividend of 15 cents per share for the fourth quarter. The company set December 1 as the payment date for shareholders of record on November 10. Everest Group was also scheduled to report third-quarter results after the market close on October 28 and hold its conference on October 29 at 8 a.m. Eastern time; the available information here does not include its financial results.