Chipotle Mexican Grill Q3 Profit Misses Estimates - Quick Facts

(RTTNews) - Chipotle Mexican Grill, Inc. (CMG) reported third-quarter profit that missed analysts' estimates for the quarter. Looking forward, the company said it now expects to open 215-225 new restaurants in 2015, up from the previously announced range of 190-205. For 2016, management expects 220-235 new restaurant openings.

For 2015, the company expects low-to-mid single digit comparable restaurant sales increases. For 2016, the company expects low-single digit comparable restaurant sales increases.

Net income for the third quarter of 2015 was $144.9 million, or $4.59 per share, compared to $130.8 million, or $4.15 per share, in the third quarter of 2014. On average, 29 analysts polled by Thomson Reuters expected the company to report profit per share of $4.63 for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter was $1.22 billion, up 12.2% from the third quarter of 2014. The growth in revenue was driven by new restaurants not in the comparable base and a 2.6% increase in comparable restaurant sales. Analysts expected revenue of $1.22 billion for the quarter.