• Chipotle Mexican Grill stock is trading in a tight range. Where is CMG stock headed?

Chipotle Beats Estimates In Q4

Chipotle reported revenue of $2.98 billion for the fourth quarter, beating analyst estimates of $2.96 billion. The fast-casual restaurant chain company reported fourth-quarter adjusted earnings of 25 cents per share, beating estimates of 24 cents per share, according to Benzinga Pro.

Total revenue increased 4.9% year-over-year, while comparable restaurant sales decreased 2.5% year-over-year due to lower transactions of 3.2%, partially offset by a 0.7% increase in average check.

Chipotle said revenue growth was driven by new restaurant openings and gift card breakage revenue of $27 million, up $19.1 million year-over-year. The company opened 132 new restaurants in the quarter, and 97 of those locations included a Chipotlane.

Digital sales represented 37.2% of food and beverage revenue. Restaurant-level operating margin was 23.4% in the fourth quarter.

“Against a dynamic consumer backdrop, we opened a record number of restaurants globally and grew Q4 and full year revenue,” said Scott Boatwright, CEO of Chipotle.

“This momentum will fuel our next phase of growth, driven by our ‘Recipe for Growth’ strategy, which leans into what uniquely differentiates our brand to accelerate transactions and expand our footprint globally.”

Chipotle said it repurchased $741.6 million of its stock in the quarter and had $1.7 billion remaining on its buyback as of Dec. 31, 2025.

Chipotle Sees Flat Comparable Sales

Chipotle expects full-year 2026 comparable restaurant sales to be “about flat.” The company expects to open between 350 and 370 new restaurants in 2026, with around 80% including a Chipotlane.

Chipotle executives will further discuss the quarter on an earnings call with investors and analysts at 4:30 p.m. ET.

CMG Shares Down In Extended Trading

CMG Price Action: Chipotle shares were down 3.75% in after-hours Tuesday, trading at $37.70 at the time of publication, according to Benzinga Pro.

Image: Shutterstock.com