Shares of Chipotle Mexican Grill (CMG) hit an all-time high today, climbing 7.35% to $3,142 in afternoon trading. The increase comes after the popular burrito chain reported first-quarter earnings Wednesday and outpaced analysts’ expectations in both earnings and sales. Shares now have risen by more than a third over the past year.

The company announced that first-quarter revenue increased by 14% from a year ago to $2.7 billion, which was just above analysts’ expectations of $2.68 billion, CNBC reported, citing a consensus estimate. Earnings per share were expected to hover at $11.68 but instead came in at $13.37.

Even though the company has raised its prices six times since 2021, as the Wall Street Journal reported, loyalists keep coming back: Chipotle says it saw a 7% increase in same-store sales. Chipotle attributes this increase to faster service and the revival of limited-time offerings such as Chicken al Pastor.

Since Wednesday’s earnings report, at least 10 analysts have raised their price targets on the stock, MarketWatch reported.

The news comes as many well-known restaurant chains are struggling. At the beginning of this year, TGI Fridays announced the closure of 36 locations. Meanwhile, fast-casual Tex-Mex chain Tijuana Flats—now under new ownership—filed for Chapter 11 bankruptcy this month, and Red Lobster has reportedly considered a similar route.

Chipotle remains optimistic, with expectations that same-store sales will grow by a mid-to-high single-digit percentage. 

In addition to these projections, Chipotle’s board approved a 50-for-1 stock split in March, which is one of the largest in the New York Stock Exchange’s history. If investors vote to approve the split in the annual shareholder meeting on June 6, it will start trading on a post-split basis on June 26.