Chipotle Mexican Grill (CMG – Analyst Report) reported its third-quarter earnings results after the closing bell today. The Colorado-based fast casual Mexican chain posted a positive earnings surprise of 0.91% last quarter, but has faced increased costs and expects lower comps throughout the year.

After double-digit comps growth in 2014, Chipotle failed to sustain the trend in the first half of the year. This is due in part to its decision to suspend purchases from one of its pork suppliers, resulting in many stores suspending the sale of its Carnitas dish. Higher food and labor costs have also hurt Chipotle this year.

However, Chipotle currently has a Zacks Rank #2 (Buy) as earnings estimate activity has looked mostly positive coming into today. We could, however, see movement in the rankings following the latest earnings data. With that said, we have highlighted some of the key takeaways from today's report below:

Earnings: Chipotle posted an EPS of $4.59, which missed our Zacks Consensus Estimate of $4.64.

Revenue: Chipotle posted quarterly revenues of $1.216 billion, which was basically in-line with ourconsensus estimate of $1.214 billion.

Key Stats to Note: Comps increased 2.6% during the third-quarter, bringing comps growth to 5.5% on the year.

Stock Price: Shares of CMG closed down about 1.8% on the day. In afterhours trading, CMG has been volatile, dropping as far as 5% before eventually bouncing back a couple of points.