Q3 25 EPS
$0.29
BEAT +0.97%
Est. $0.29
Q3 25 Revenue
$3.00B
MISS 0.63%
Est. $3.02B
vs S&P Since Q3 25
-6.7%
TRAILING MARKET
CMG -0.7% vs S&P +6.0%
Market Reaction
Did CMG Beat Earnings? Q3 2025 Results
Chipotle Mexican Grill delivered a mixed third quarter for fiscal 2025, narrowly beating earnings expectations while falling just short on the top line as consumer spending headwinds weighed on traffic. Adjusted diluted EPS of $0.29 edged past the $0… Read more Chipotle Mexican Grill delivered a mixed third quarter for fiscal 2025, narrowly beating earnings expectations while falling just short on the top line as consumer spending headwinds weighed on traffic. Adjusted diluted EPS of $0.29 edged past the $0.29 consensus estimate by 0.97%, even as revenue of $3.00 billion came in 0.63% below expectations, rising 7.5% year over year largely on the strength of 84 new restaurant openings rather than same-store momentum. Comparable restaurant sales grew just 0.3%, with a 1.1% higher average check unable to fully offset an 0.8% decline in transactions, a telling sign of the pressure ordinary consumers are placing on discretionary dining budgets. Restaurant-level operating margin compressed to 24.5% from 25.5% a year ago, driven by wage inflation and softer sales volumes. Looking ahead, management struck a cautious tone, guiding for full-year comparable sales declines in the low-single digit range while still targeting 315 to 345 new company-owned restaurant openings in 2025 and 350 to 370 in 2026.
Key Takeaways
- • New restaurant openings drove revenue growth of 7.5%
- • Comparable restaurant sales increased 0.3% driven by 1.1% average check increase, partially offset by 0.8% transaction decline
- • Menu price increases from 2024 and cost of sales efficiencies improved food, beverage and packaging costs
- • Digital sales represented 36.7% of total food and beverage revenue
- • Chipotlane locations continue to enhance guest access and increase new restaurant sales, margins, and returns
CMG YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
CMG Revenue by Segment
With YoY comparisons, source: SEC Filings
“While we continue to see persistent macroeconomic pressures, our extraordinary value proposition and brand strength remain strong.”
— Scott Boatwright, Q3 2025 Earnings Press Release
CMG Earnings Trends
CMG vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CMG EPS Trend
Earnings per share: estimate vs actual
CMG Revenue Trend
Quarterly revenue: estimate vs actual
CMG Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | — | — | — | — |
| Q4 25 BEAT FY | $0.24 | $0.25 | +4.73% | $2.98B | +0.62% |
| FY Full Year | $1.16 | $1.14 | -1.39% | $11.93B | +0.15% |
| Q3 25 BEAT | $0.29 | $0.29 | +0.97% | $3.00B | -0.63% |
| Q2 25 BEAT | $0.33 | $0.33 | +1.32% | $3.06B | -1.71% |
| Q1 25 BEAT | $0.28 | $0.29 | +4.43% | $2.88B | -2.39% |