Chipotle beats earnings as price hikes help offset higher food costs On Thursday, Chipotle (CMG) unveiled its third-quarter earnings results after the close of the market, outperforming expectations in terms of earnings and same-store sales. Following the report, the company’s stock initially surged by 5% in after-hours trading, although it later retraced some of those gains. The company reported a notable 11% growth in revenue, reaching $2.47 billion, fueled by a 5% increase in same-store sales, slightly surpassing estimates, which had projected a growth of 4.37%. Chipotle also exceeded expectations on its bottom line, with adjusted earnings per share registering at $11.36, as compared to the $10.51 anticipated by analysts. Less impressive performance of Garlic Guajillo The performance of the quarter was bolstered by the reintroduction of Carne Asada in mid-September, a fan favorite from 2019. This limited-time offering outperformed the “less impressive performance o...