Chipotle Mexican Grill increased its 2026 same-store sales growth forecast to a low single-digit percentage after exceeding Q2 earnings and revenue expectations. The company attributes its success to menu innovation and customer engagement, despite a 2% sales impact in late July from a cyclospora outbreak.
Chipotle Mexican Grill reported first-quarter same-store sales growth of 0.5%, beating Wall Street expectations of a 0.7% decline. Revenue rose 7.4% to $3.09 billion, slightly above the $3.07 billion expected. Net income fell to $302.8 million from $386.6 million a year earlier, impacted by higher tax rates, wage inflation and rising beef prices. CEO Scott Boatwright said results exceeded company expectations. The company reiterated its full-year outlook of flat same-store sales.
Chipotle Mexican Grill is expected to report Q1 earnings after market close on Wednesday, with analysts projecting 24 cents EPS on $3.07 billion in revenue. The burrito chain has seen its shares lose 35% of their value over the last 12 months, reporting same-store sales declines in three of the last four quarters. Analysts forecast a 0.7% same-store sales decline for the quarter, with the company projecting flat same-store sales for 2026, indicating the challenges are expected to persist.
