Chipotle reports Q3 2026 revenue growth amid margin pressure

Chipotle Mexican Grill reported third-quarter 2026 revenue of $3.3 billion, a 9.6% increase compared to the previous year. While comparable restaurant sales rose 2.1%—exceeding analyst expectations of 1.4%—the company’s earnings fell short of Wall Street projections.

Net income was $339.9 million, or 27 cents per diluted share, down from $382.1 million, or 29 cents per share, in the same period last year. Profitability was impacted by rising input costs, including labor, transport, and ingredients like beef. Consequently, the operating margin decreased to 13.7% from 15.9%, and the restaurant-level operating margin fell to 23.3% from 24.5%.

Operational highlights include the opening of 84 company-owned restaurants and five international partner-operated locations. The company is expanding its global footprint, including a recent entry into the South Korean market through a joint venture with Sangmidang Holdings. For 2027, Chipotle plans to open between 340 and 360 new company-owned locations in the United States and Canada, alongside 15 to 25 international restaurants.