Chipotle Mexican Grill verfehlt im dritten Quartal die Erwartungen für den Umsatz im selben Zeitraum from

Chipotle Mexican Grill misses same-store sales expectations in Q3

Restaurant chain reports a 4.8% increase in revenue, but falls short of analyst estimates

Chipotle Mexican Grill reported its third-quarter financial results on Thursday that missed analysts' estimates for same-store sales, sending its shares down in after-hours trading.

The restaurant chain said that its same-store sales increased by 4.8% in the quarter, below the 6.9% growth that analysts had expected. Chipotle's total revenue rose 13.1% to $2.2 billion, beating the consensus estimate of $2.19 billion.

The company's net income rose to $242.1 million, or $6.65 per share, from $187.1 million, or $4.94 per share, a year earlier. Adjusted earnings per share were $7.44, above the $7.12 that analysts had forecast.

Factors behind the sales miss

Chipotle attributed the sales miss to a number of factors, including:

A decline in the number of transactions, driven by a decrease in the number of orders placed online and through its mobile app.
A decrease in average order value, due to a decline in the average number of items per order and a decrease in the average price per item.
An increase in promotional activity, which reduced the average margin on sales.

The company also noted that it faced a number of headwinds in the quarter, including rising labor costs and supply chain disruptions.

Outlook for the fourth quarter

For the fourth quarter, Chipotle expects same-store sales to grow in the mid-single digits, driven by continued growth in digital sales and new store openings.

The company also expects to continue to face inflationary pressures, but it believes that its pricing power will allow it to offset the impact of these costs.

Conclusion

Chipotle's third-quarter results were mixed, with the company beating expectations on revenue and earnings per share but missing on same-store sales. The company attributed the sales miss to a number of factors, including a decline in the number of transactions and a decrease in average order value.

Despite the sales miss, Chipotle remains optimistic about the future and expects to continue to grow in the fourth quarter and beyond.