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."
- 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 2.3% at $8731.07 per share.
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