CB rose 8% in extended trading at 5:13 p.m., closing above 300 points as investors digest the $3.3 billion revenue that met Bloomberg‑compiled consensus.
Same‑store sales grew 2.1% in the quarter, topping the 1.5% average forecast and marking the chain’s third consecutive 2%+ uptick at restaurants open for at least 13 months.
CFO Adam Rymer said last year’s menu slump hit budget‑conscious diners, but the launch of mesquite‑smoked brisket on Nov. 5 should lift traffic. The salmonella scare in October sent the share price down 9.7%, yet the recent rally reflects a rapid recovery.
On the earnings call, CEO Scott Boatwright said the results prove Chipotle can drive demand in a tough environment, and the company maintained its full‑year comparable sales guidance in the low‑single‑digit range while planning equipment upgrades to boost efficiency. Rymer projected 3% inflation this quarter and 2% higher menu prices by year‑end.
Despite the rally, CB is down 22% year‑to‑date versus a 13% rise in the S&P 500, reflecting broader market softness and lingering concerns over supply‑chain costs.