Chipotle Q3 Preview: Can the Burrito Chain Win Back Momentum?

Chipotle Mexican Grill CMG reports third-quarter 2025 results after the market closes on October 29. Analysts expect EPS of $0.29 and revenue near $3 billion. The stock is down about 32% so far this year, as investors grow more cautious about slowing traffic and pressure on margins.

The company faces a challenging backdrop. While revenue growth continues to benefit from new store openings, comparable restaurant sales have softened, declining 4% last quarter.. Customer traffic has been weak, with more consumers pulling back on discretionary dining. Chipotle's price hikes in 2024 helped operating margins, but profit still came in lower than it did a year ago.

For this quarter, analysts will be watching if there's an improvement in same-store sales, average check size, and the mix between in-store and digital orders. Also, how effectively Chipotle is managing its cost structure and leveraging new locations. The company has also been expanding automation in its kitchens, testing robotic systems for prep work, aiming at reducing labor needs, and investors will want to hear how that rollout is going.

Given the share-price weakness, Wall Street wants to see tangible progress under CEO Scott Boatwright, who took over in August 2024. A solid quarter could restore some confidence, but another miss would likely keep the pressure on both the share price and the broader turnaround story.