Q3 2025 revenue rose 7.5% year-over-year to $3.0 billion, with comparable sales up 0.3% and digital sales comprising 36.7% of total sales.
84 new restaurants opened, including 64 with Chipotlanes, and two international partner-operated locations added in the Middle East.
Net income for Q3 2025 was $382.1 million, or $0.29 per diluted share, with adjusted diluted EPS up 7.4%.
Restaurant-level margin declined 100 basis points to 24.5% year-over-year.
Persistent macroeconomic pressures, especially among lower-income guests, led to reduced frequency and transaction softness.
Comparable restaurant sales increased 0.3% year-over-year, with a 1.1% rise in average check offset by a 0.8% decline in transactions.
Restaurant-level margin was 24.5%, down 100 basis points from last year.
Adjusted diluted EPS was $0.29, up 7.4% year-over-year; GAAP EPS grew 3.6%.
Net income for Q3 2025 was $382.1 million.
Food, beverage, and packaging costs decreased to 30% of revenue, while labor costs rose to 25.2%.
Full-year 2025 comparable restaurant sales expected to decline in the low single-digit range.
315–345 new company-owned restaurant openings planned for 2025, and 350–370 in 2026, with over 80% featuring Chipotlanes.
Tariffs enacted since April 2025 expected to increase food, beverage, and packaging costs by about 50 basis points ongoing.
Pricing strategy for 2026 will be gradual, not fully offsetting inflation, to maintain value proposition.
Estimated underlying effective full year tax rate for 2025 between 25% and 27% before discrete items.
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Chipotle Mexican Grill is a popular fast-casual restaurant chain that specializes in Mexican cuisine. The company is known for its focus on high-quality ingredients and sustainable practices. Chipotle's menu features a variety of customizable burritos, bowls, tacos, and salads, with options for vegetarians and vegans.
The company's commitment to using fresh, locally sourced ingredients has earned it a loyal following of customers who appreciate the quality of its food.
Chipotle operates through two main business segments: Restaurants and Other. The Restaurants segment includes all of the company's restaurant operations in the United States and internationally. The Other segment includes the company's non-restaurant operations, such as catering and delivery services.
Chipotle operates over 3,000 restaurants in the United States, Canada, the United Kingdom, France, and Germany. The company has a strong presence in the fast-casual restaurant industry, with a focus on providing a high-quality dining experience that is also affordable.
The company was founded in 1993 in Denver, Colorado, by Steve Ells, who originally intended to open a fine-dining restaurant. However, the success of Chipotle's first location, which offered a limited menu of burritos, tacos, and salads, led the company to focus on fast-casual dining. Chipotle was actually one of the first in the fast-food industry to offer digital ordering and payment options.
The company has also been recognized for its innovative marketing campaigns, such as its "Scarecrow" campaign that highlighted the importance of sustainable agriculture.
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