Chipotle Mexican Grill CEO Scott Boatwright reports strong second-quarter growth and raised full-year sales forecast.
Chipotle Mexican Grill CEO Scott Boatwright reported that the restaurant chain successfully exceeded analyst expectations for second-quarter earnings and revenue. The company reported a net income of $403.5 million and revenue growth of 9.3% to $3.35 billion. These results were driven by menu innovations such as Honey Chicken and a new cilantro lime sauce, alongside a robust rewards program and increased group orders. Scott Boatwright noted that the company is successfully luring customers back despite high gas prices and inflation. The administration announced that Chipotle's same-store sales grew by 2.2%, surpassing the 1.33% forecast. Consequently, the company raised its full-year outlook, now projecting low-single-digit growth for same-store sales in 2026. While a cyclospora parasite outbreak in lettuce affected some chains, Scott Boatwright clarified that Chipotle's California-sourced lettuce is not impacted. The company plans to open 350 to 370 new restaurants globally this year.