Chipotle says annual targets exclude salmonella impact as the stock attemps rebound

Chipotle Mexican Grill stated on Wednesday that its annual financial targets announced last week do not account for potential costs related to a salmonella outbreak in Minnesota that led the company to remove jalapeños from certain locations, as the stock was attempting to rebound from a nearly 10% loss on Tuesday.

CMG shares rose about 3% in early trading on Wednesday.

The Minnesota Department of Health reported on Tuesday that it identified 110 salmonella cases in the state. Among 84 people interviewed, 75 said they ate at Chipotle between June 14 and July 14.

"Due to the uncertain nature of any possible outcomes or impacts from the salmonella investigations, our guidance did not include a financial impact from these matters," the company stated in a regulatory filing on Wednesday.

Chipotle began tracing ingredients through its supply chain on Tuesday after learning of the potential outbreak. The company identified jalapeños from a common lot as a possible source of the Minnesota salmonella cases, though health authorities have not yet confirmed the definitive cause.

The burrito chain removed the jalapeños from its restaurants and replaced them with products from different growers.

On July 29, Chipotle executives warned that the current quarter would likely be its toughest of the year when the company raised its annual sales forecast. The company cited consumer caution about dining out due to a separate, multistate cyclosporiasis outbreak.

Last week, Chipotle reported quarterly results that exceeded estimates. The company now expects fiscal 2026 comparable restaurant sales growth in the low single-digit range, compared with its previous forecast of about flat growth.