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Chipotle (CMG) is set to report its first quarter results on Wednesday after market close as the burrito chain aims to regain momentum amid a tricky consumer backdrop.

Same-store sales are expected to have fallen 0.9% in Q1, according to Bloomberg consensus data. Revenue is expected to have grown about 7% year over year to $3.07 billion. Adjusted earnings are expected to drop to $0.24 per share, compared to earnings per share of $0.29 in the same quarter last year.

Last quarter, the company told investors it expects no sales growth in 2026 as its core customer continues to face economic pressure, leading to a decline in traffic.

Investors will be looking for an update to that guidance, TD Cowen analyst Andrew Charles wrote in a note to clients.

The bar for Chipotle’s results is set somewhat low after the last quarter, when same-store sales fell 2.5%, even as higher menu prices helped offset lower transactions. That was below the 2.9% same-store sales increase that Wall Street expected, according to Bloomberg estimates.

Limited-time offerings like chicken al pastor, the launch of its high-protein menu, and increased marketing should help blunt the impact of other headwinds, such as winter storms, higher gas prices, and elevated input costs, Telsey Advisory Group Sarang Vora wrote in a note to clients.

Some other catalysts Vora is watching include the limited return of honey chicken, the recently relaunched rewards program, and the expansion of catering and customizable group orders.

“These group orders have the potential to see double-digit sales penetration over time, versus less than 3% today,” Vora wrote.

Chipotle’s stock is down 11% so far this year.

Brooke DiPalma is a reporter for Yahoo Finance. Follow her on X at @BrookeDiPalma or email her at bdipalma@yahoofinance.com.

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