Chipotle's same-store sales growth disappoints in the fall.

• On Tuesday, Chipotle Mexican Grill reported mixed quarterly results, with earnings exceeding expectations but revenue falling short.
• The burrito chain's sales increased by 6%, slightly below the predicted 6.3% growth by StreetAccount.
• Chipotle predicted that its same-store sales would increase by a mid- to high-single-digit percentage for the entire year.

Despite higher traffic to its restaurants, on Tuesday, the company reported mixed quarterly results.

Shares of the company fell 7% in extended trading.

Based on a survey of analysts by LSEG, the company's reported results differed from Wall Street's expectations.

• Earnings per share: 27 cents adjusted vs. 25 cents expected
• Revenue: $2.79 billion vs. $2.82 billion expected

In the third quarter, Chipotle's net income was $378.4 million, or 28 cents per share, an increase from $313.2 million, or 23 cents per share, in the previous year.

During the quarter, the company's food and beverage expenses rose, in part because of Chipotle's response to criticism about the size of its burrito bowls on social media.

Excluding items, the company earned 27 cents per share.

Net sales climbed 13% to $2.79 billion.

Despite an overall decline in foot traffic across the industry, Chipotle's traffic to restaurants increased by 3.3% in the quarter. This growth was driven by the chain's wealthier customer base, who are willing to pay more for its burritos and bowls. While many consumers have opted to eat out less, Chipotle's same-store sales rose 6%, just shy of StreetAccount estimates of 6.3%.

In the third quarter, Chipotle temporarily reintroduced its smoked brisket, which is currently the priciest protein option, surpassing even the steak and beef barbacoa.

The chain's quarterly food and beverage revenue was generated by digital sales, which accounted for 34%.

During the quarter, the company opened 86 new locations, with 73 of them featuring a "Chipotlane" for online order pickup.

Chipotle expects to increase same-store sales by a mid- to high-single-digit percentage and plans to open between 285 and 315 new restaurants this year.

Chipotle aims to open between 315 and 345 new restaurants by 2025, with over 80% of them featuring a Chipotlane.

Since CEO Brian Niccol left to lead Starbucks' turnaround, Chipotle's board has appointed COO Scott Boatwright as the company's interim chief executive.

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