Chipotle Mexican Grill Q3 Profit Rises - Quick Facts

(RTTNews) - Chipotle Mexican Grill Inc. (CMG, CMG-B) reported third-quarter net income of $130.8 million, or $4.15 per share, compared to $83.4 million, or $2.66 per share, in the third quarter of 2013.

On average, 26 analysts polled by Thomson Reuters expected the company to report profit per share of $3.84 for the quarter. Analysts' estimates typically exclude special items.

Revenue was $1.08 billion, up 31.1% from the third quarter of 2013. The company said the growth in revenue was driven by a 19.8% increase in comparable restaurant sales and from new restaurants not in the comparable base. Comparable restaurant sales growth was driven primarily by increased traffic and from an increase in average check, which includes the benefit of a nationwide menu price increase that was fully rolled out by the end of the second quarter, the company said. Analysts expected revenue of $1.06 billion for the quarter.

The company expects mid-teens comparable restaurant sales increases in 2014. For 2015, management expects low to mid-single digit comparable restaurant sales increases.