The fast-casual chain reported $3.35 billion in Q2 revenue, beating forecasts, and lifted its full-year comparable sales growth forecast.
Chipotle Mexican Grill reported second-quarter revenue of $3.35 billion, up 9.3% year-over-year and above the $3.33 billion analysts expected. Adjusted earnings reached 33 cents per share, surpassing the 32-cent consensus estimate.
The company raised its full-year comparable sales forecast to low single-digit growth, improving from its prior outlook of flat same-store sales. Comparable restaurant sales rose 2.2% in Q2, driven by a 1% increase in customer visits and a 1.2% rise in check sizes. Net income fell to $403.5 million from $436.1 million a year earlier.
Chipotle stock climbed about 6% in extended trading following the announcement. Executives attributed the performance to menu innovations and a strong rewards program.