DENVER—Chipotle Mexican Grill Inc.’s third-quarter net income jumped 40 percent as the restaurant chain’s sales grew.
The company reported that it earned $48.2 million, or $1.52 per share for the quarter. That’s up from $34.5 million, or $1.08 per share, in the same quarter last year.
Revenue rose 23 percent to $476.9 million from $387.6 million, largely due to new restaurants. Chipotle opened 22 restaurants during the period, bringing its total restaurant count to 1,023.
Analysts polled by Thomson Reuters expected the company to earn $1.31 per share for the quarter on revenue of $462 million.
Sales at restaurants open at least a year rose 11.4 percent. This is considered a key measure of a retailer’s financial performance as it strips away the impact of recently opened or closed sites.
Chipotle shares rose $6.25, or 3.5 percent, to $185.50 in after-hours trading following the news. In the regular session, shares fell $1.50 to $179.25.
