Chipotle Mexican Grill has raised its same-store sales growth forecast for the year after exceeding analysts' expectations for quarterly earnings and revenue. The company is taking a more optimistic view of its full-year prospects.
During the second quarter, Chipotle Mexican Grill reported a net income of $403.5 million, or 32 cents per share, which was a decrease from the $436.1 million reported a year earlier. Excluding impairment and restructuring costs, the company earned 33 cents per share, beating analyst estimates by $0.01.
The company's same-store sales grew by 2.2% in the second quarter, supported by a 1% increase in traffic.
Outlook and market performance
Chipotle Mexican Grill projects that same-store sales will increase by a low single-digit percentage in 2026, an upward revision from its previous outlook of flat sales. However, the company acknowledged a softening in traffic during the second half of July.
Following the earnings report, the company's stock climbed approximately 6% in extended trading. This comes as the stock has fallen more than 7% so far this year, with a market value of approximately $44 billion.