Chipotle Ticks Higher After Big Q3 Earnings Beat

Chipotle Mexican Grill, Inc. CMG shares ticked higher after reporting a third-quarter earnings beat.

Adjusted earnings came in at $3.82, beating estimates by 63 cents. Sales came in at $1.404 billion, beating estimates by $24 million.

"We're pleased with our overall results in the quarter, which reflects further progress on our key strategic initiatives to provide a great guest experience and position Chipotle to deliver above industry growth for many years to come," CEO Brian Niccol said. "These strong results reinforce that running great restaurants with a purpose of cultivating a better world is a compelling proposition."

Q3 Highlights

  • Comparable restaurant sales increased 11%
  • Revenue increased 14.6%
  • Digital sales grew 87.9%
  • 25 new restaurants opened

Chipotle shares traded higher by 1.3% in Tuesday's after-hours session. The stock closed down 2.4% at $831.07 per share.

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