NEWPORT BEACH, Calif. (AP) _ Chipotle Mexican Grill Inc. (CMG) on Tuesday reported third-quarter profit of $98.6 million.
On a per-share basis, the Newport Beach, California-based company said it had profit of $3.47. Earnings, adjusted for non-recurring costs, were $3.82 per share.
The results exceeded Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $3.20 per share.
The Mexican food chain posted revenue of $1.4 billion in the period, which also topped Street forecasts. Thirteen analysts surveyed by Zacks expected $1.38 billion.
Chipotle shares have increased 92% since the beginning of the year, while the Standard & Poor's 500 index has risen 20%. In the final minutes of trading on Tuesday, shares hit $831.12, a climb of 93% in the last 12 months.