Chipotle Mexican Grill (CMG) shares rose 8.88% after CEO Scott Boatwright said the plan to reinvigorate growth was working. Third-quarter revenue rose 9.6% year over year to $3.3 billion, with 84 company-owned openings and five international partner-operated locations bringing the total to more than 4,200 restaurants as of Sept. 30. Comparable restaurant sales grew 2.1%, and digital sales rose to 38.8% of food and beverage revenue from 36.7% a year earlier. Restaurant-level operating margin fell to 23.3% from 24.5% despite menu price increases to offset higher beef, freight and labor costs, while adjusted net income was $344.6 million, or $0.27 per share. For 2027, Chipotle plans 340 to 360 openings in the U.S. and Canada and 15 to 25 in other international markets.
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