Chipotle’s brisket return revisits a food-cost tradeoff

Chipotle plans to bring Smoked Brisket back November 5 for a limited time in the U.S. and Canada. The company says previous runs sold out earlier than anticipated.

Its 2024 results show the tradeoff: Chipotle called brisket successful while citing its protein mix among the reasons food costs rose.

The October 26 announcement describes a product finished throughout the day in restaurants. After smoking over mesquite, the beef is seared, seasoned, sauced and hand-chopped in small batches by restaurant staff, Chipotle says.

Its sourcing rules also narrow the beef it can buy. Chipotle estimates that roughly 5% of U.S. beef meets its standards, which include vegetarian feed, no added growth hormones or routine antibiotics, and traceability to the ranch of origin.

The 2024 cost comparison#

In the third quarter of 2024, comparable sales increased 6% and transactions rose 3.3%. Those are chainwide results; brisket's contribution to visits was not separately quantified.

Food, beverage and packaging costs reached 30.6% of revenue, versus 29.7% a year earlier. Chipotle attributed the increase to brisket's protein mix, avocado and dairy inflation, and greater ingredient use as it pursued consistent, generous portions. Previous menu-price increases partly offset those pressures.

Fourth-quarter food, beverage and packaging costs were 30.4% of revenue, up from 29.7% in the same period of 2023. Management again named brisket mix, ingredient usage and inflation, partly offset by menu prices. The increase was 0.7 percentage point; Chipotle did not assign a share of it to brisket.

The same report puts full-year food, beverage and packaging costs at 29.8% of revenue, compared with 29.5% in 2023. Yet Chipotle's full-year restaurant-level operating margin increased to 26.7% from 26.2%. It measures revenue less direct restaurant operating costs, as a share of revenue. Food cost is one component, so a higher food-cost share does not by itself establish lower overall restaurant profitability. Neither measure isolates the profit earned on a brisket order.

Beef costs in 2026#

By the second quarter of 2026, beef and freight inflation were among the pressures Chipotle reported on food, beverage and packaging costs. The measure was 29.7% of revenue, up from 28.9% in the second quarter of 2025. Higher protein and produce usage also contributed, while menu-price increases and lower avocado and dairy costs provided some offset.

Comparable restaurant sales increased 2.2% that quarter, comprising 1% more transactions and a 1.2% increase in the average check. The measure compares company-owned restaurants open for at least 13 full calendar months, excluding new openings. The July 29 report covers the quarter ended June 30. Chipotle owns and operates its U.S. and Canadian restaurants; these company disclosures describe its own business, rather than franchisee margins.

The November launch also includes a $0 delivery-fee promotion at participating restaurants through November 18. Qualifying orders must include a brisket entree and total at least $10 in the U.S. or C$12 in Canada before taxes and fees. Orders must go through Chipotle's app or websites, excluding third-party delivery platforms. Delivery menu prices remain higher, and other fees may apply.