Filing Flows › Chipotle Mexican Grill (CMG) › Q3 2026
Chipotle Mexican Grill (CMG) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 29, 2026
Chipotle Mexican Grill (CMG) reported revenue of $3.3B for the third quarter 2026 (Q3 2026), +10% from a year earlier and -2% from the quarter before. Operating margin was 13.7%, net earnings $340M (10.3% of revenue).
Chipotle Mexican Grill, Q3 2026: revenue $3.3B (+10% year over year), operating margin 13.7%, net earnings $340M, operating cash flow $590M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.3B | -2% | +10% |
| Operating profit | $452M | -14% | -5% |
| Net earnings | $340M | -16% | -11% |
| Operating cash flow | $590M | -13% | +4% |
| Free cash flow | $347M | -25% | -15% |
What changed
Revenue was $3.3B in Q3 2026, up 10% year over year and down 2% from the previous quarter. Food and beverage revenue was the largest line at 100% of revenue. Food and beverage revenue added $0.29B year over year (up 10%), 100% of the total change.
Operating profit was $0.45B, a 13.7% margin (down 2.2 points year over year). Operating profit fell $0.03B even though revenue rose $0.29B versus Q3 2025, so costs grew faster than sales. Total costs grew 12% against revenue growth of 10%. The fastest-growing cost line was General & admin (+26%). Net earnings were $0.34B, down 11% year over year. The effective tax rate was 25.6%.
Operating cash flow was $0.59B (up 4% year over year), 174% of net earnings. Non-cash charges added back $0.10B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.12B. Capital expenditures of $0.24B left free cash flow of $0.35B.
Questions
What was Chipotle Mexican Grill's revenue in the third quarter 2026?
Chipotle Mexican Grill (CMG) reported revenue of $3.3B for the third quarter 2026 (Q3 2026), +10% from a year earlier and -2% from the quarter before.
Was Chipotle Mexican Grill profitable in the third quarter 2026?
Operating profit was $452M (13.7% of revenue) and net earnings $340M.