Chipotle Mexican Grill, Inc. · CMG · Next earnings

Chipotle Mexican Grill, Inc. reports Wednesday, Oct 28, 2026

CMG reports after market close with consensus EPS at $0.29 and revenue at $3.28B. Last quarter: Chipotle Q1 2026: Slight Beat on Revenue and EPS, Comp Sales Edge Positive, Guidance Maintained

Reports After market close38 days awayDate estimated Consumer Cyclical

What the street expects

Consensus for the coming report
Consensus EPS $0.29 Calendar consensus
Consensus revenue $3.28B Calendar consensus
Report date Oct 28, 2026 Wednesday, date estimated
Session After market close 38 days away

Where CMG left off: FY2026 Q1

Full report

Chipotle Q1 2026: Slight Beat on Revenue and EPS, Comp Sales Edge Positive, Guidance Maintained

EPS surprise +1.1% Reported $0.24 vs $0.24
Revenue surprise +0.7% Reported $3.09B vs $3.07B
Stock move +3.0% Event window
Subsequent drift -6.3% Up to 20 sessions

Full-year comparable-sales guidance remains flat. Pricing is expected to run approximately 1% in Q1, 1.5% in Q2, and 1-2% for the full year. Capex is increasing, with accelerated equipment rollout to 2,000 locations by year-end and roughly 350 new restaurant openings planned. Management's overall guidance sentiment was maintained -- no raise, no cut.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Geopolitical tensions potentially delaying Middle East partner-operated restaurant openings
  • Inflationary pressure on beef, dairy, and produce increasing cost-of-sales
  • Labor cost inflation and the need to maintain low GM turnover
  • Weather-related restaurant closures affecting quarterly comparables
  • Intensifying competition from other fast-casual and QSR brands

Questions analysts left open

  • Q2 comparable-sales outlook and traffic vs. mix expectations
  • Impact of new LTOs on sustained comp growth
  • Pricing power and future price-increase strategy
  • Margin trajectory amid inflation and cost-of-sales pressure
  • Effectiveness and scaling timeline of equipment and digital rollouts

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Recent CMG quarters

All CMG earnings
+3.0%FY2026 Q1

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q1

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.