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Chipotle beats Q3 EPS estimates, expects strong FY'19 comparable sales

Chipotle Mexican Grill Inc. said Oct. 22 that it expects to be on the higher end of its comparable restaurant sales guidance for fiscal 2019 as it reported strong third-quarter performance.

The Mexican fast-food chain previously forecast comparable restaurant sales growth in the high single digits. It also expects restaurant openings to be at or slightly below its prior outlook of 140 to 155 locations.

For the quarter ended Sept. 30, Chipotle's adjusted diluted EPS grew 76.9% year over year to $3.82, higher than the S&P Global Market Intelligence mean consensus estimate of $3.22. Adjusted net income for the quarter came in at $108.3 million, while revenue jumped 14.6% to $1.4 billion primarily due to an 11% increase in comparable restaurant sales.

Chipotle opened 25 new stores and closed one during the three-month period, bringing the total restaurant count to 2,546.