- Q3 total revenue rose 9.6% year over year to $3.3 billion, driven by new restaurant openings and, to a lesser extent, comparable restaurant sales.
- Comparable restaurant sales rose 2.1%, including a 1.3% increase in average check and a 0.8% increase in transactions, marking a third consecutive quarter of positive transaction growth.
- Operating margin fell to 13.7% from 15.9%, and diluted EPS was $0.27 versus $0.29 a year earlier.
- Labor costs rose to 25.7% of revenue from 25.2%, and G&A expense increased to $185.2 million from $146.7 million.
- Chipotle anticipates Q4 comparable sales around +2% and 340-360 openings in the U.S. and Canada in 2027.
Quotes
“Three consecutive quarters of positive comparable transaction growth demonstrates that our Recipe for Growth strategy is working”