Chipotle Reports Q4 Earnings, Outlines 2026 Growth Plans

Chipotle navigates 'dynamic consumer backdrop' as it focuses on operational excellence, menu innovation, and global expansion.

Published on Feb. 4, 2026

Got story updates? Submit your updates here. ›

Chipotle Mexican Grill reported its fourth-quarter and full-year 2025 results, with revenue growth of 5.4% year-over-year despite a 1.7% decline in comparable restaurant sales. The company opened a record 334 new company-owned restaurants and 11 international partner-operated locations in 2025. Looking ahead, Chipotle expects flat comparable sales in 2026 as it prioritizes value and navigates near-term margin pressure from inflation. The company outlined a 'Recipe for Growth' strategy centered on operational improvements, menu innovation, technology investments, and global expansion.

Why it matters

Chipotle's performance and outlook provide insights into the broader restaurant industry's challenges, including increased consumer value sensitivity and inflationary pressures. The company's strategic initiatives to drive operational efficiency, menu innovation, and international growth will be closely watched as indicators of Chipotle's ability to adapt and thrive in a dynamic market.

The details

Chipotle reported a 5.4% year-over-year increase in revenue for fiscal 2025, despite a 1.7% decline in comparable restaurant sales. The company's restaurant-level margin was 23.4%, down 140 basis points from the prior year. Adjusted diluted earnings per share increased 4.5% to $1.17. Chipotle opened a record 334 new company-owned restaurants and 11 international partner-operated locations in 2025. Looking ahead, the company expects flat comparable sales in 2026, with pricing lagging inflation in the near term as it prioritizes value. Chipotle plans to increase its limited-time offer cadence, expand group ordering and catering, relaunch its rewards program, and invest in technology and global expansion to drive growth.

  • Chipotle reported its fourth-quarter and full-year 2025 results on February 4, 2026.
  • Chipotle plans to launch a new protein-focused menu and supporting marketing campaign in early 2026.
  • Chipotle expects to relaunch its rewards program in the spring of 2026.
  • Chipotle plans to open approximately 350 new company-owned restaurants in 2026, or about one new Chipotle per day.
  • Chipotle plans to nearly double its Middle East footprint and sales in 2026, including entry into Saudi Arabia.

The players

Chipotle Mexican Grill

A fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Chipotle emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality.

Scott Boatwright

The Chief Executive Officer of Chipotle Mexican Grill.

Jack Rymer

The Chief Financial Officer of Chipotle Mexican Grill.

Got photos? Submit your photos here. ›

What they’re saying

“We must navigate a dynamic consumer backdrop marked by increased value sensitivity and reduced overall restaurant spending.”

— Scott Boatwright, Chief Executive Officer (transcriptdaily.com)

“We are reinvesting time savings from our High Efficiency Equipment Package back into restaurants for hospitality, but early performance has been encouraging.”

— Scott Boatwright, Chief Executive Officer (transcriptdaily.com)

What’s next

Chipotle plans to nearly double its Middle East footprint and sales in 2026, including entry into Saudi Arabia.

The takeaway

Chipotle is adapting its strategy to navigate the current consumer environment, focusing on operational improvements, menu innovation, technology investments, and global expansion to drive growth and maintain its position as a leading fast-casual restaurant brand.