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Chipotle beats quarterly sales expectations on resilient demand

By Reuters News

Oct 28 (Reuters) - Chipotle Mexican Grill CMG.N reported better-than-expected sales on Wednesday, as value deals and limited-time offerings helped drive more customers to the burrito chain.

Shares of the company were up about 1% in choppy extended trading.

Chipotle has benefited from demand among health-conscious consumers drawn to protein-rich, less-processed meals such as its burrito bowls and salads, as well as new offerings including the limited-time Chipotle Honey Chicken.

That has helped the restaurant chain to remain resilient as consumers rein in spending amid geopolitical and macroeconomic uncertainty.

The company's third-quarter comparable restaurant sales were up 2.1%, compared with analysts' average estimate of a 1.4% rise, according to data compiled by LSEG.

Quarterly revenue rose 9.6% to $3.29 billion, in line with expectations.

However, higher input costs, such as labor, packaging and raw materials, pressured its quarterly earnings.

The company posted an adjusted profit of 27 cents per share, compared with analysts' average estimate of 29 cents.

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