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Chipotle Mexican Grill logoChipotle Mexican Grill CMG

Chipotle Mexican Grill said comparable restaurant sales rose 6.0% for the 3 months ended September 30, 2024. The company attributed the increase to a 3.3% rise in transactions and a 2.7% increase in average check.

10-QQuarterly reportFiled Period of report Summary published (UTC)

Key points

AI summary
  1. Chipotle Mexican Grill said comparable restaurant sales rose 6.0% for the 3 months ended September 30, 2024. The company attributed the increase to a 3.3% rise in transactions and a 2.7% increase in average check.

  2. The company said diluted earnings per share for the quarter were $0.28, up 21.7% from $0.23 a year earlier. The results include a $0.01 after-tax net benefit from stock-based compensation, related to unvested equity awards forfeited by its former CEO and related retention equity awards.

  3. The company said it opened 86 company-operated restaurants in the 3 months ended September 30, 2024, including 73 with a Chipotlane. It expects to open approximately 285 to 315 new company-operated restaurants in 2024 and approximately 315 to 345 in 2025.

  4. Chipotle Mexican Grill said it held cash and marketable investments of $2.2 billion as of September 30, 2024. It said $1,059.6 million remained available for share repurchases and $500.0 million was undrawn under its borrowing facility.

Key figures

Quarter ended September 30, 2024

Revenue
$2.8B
Operating income
$473M
Net income
$387M
EPS
$0.28

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Comparable restaurant sales up 6.0% in quarter

Chipotle Mexican Grill said comparable restaurant sales rose 6.0% for the 3 months ended September 30, 2024. The company attributed the increase to a 3.3% rise in transactions and a 2.7% increase in average check.

Source · Based on the MD&A text of the filing

Diluted EPS of $0.28 in quarter

The company said diluted earnings per share for the quarter were $0.28, up 21.7% from $0.23 a year earlier. The results include a $0.01 after-tax net benefit from stock-based compensation, related to unvested equity awards forfeited by its former CEO and related retention equity awards.

Source · Based on the MD&A text of the filing

86 new restaurants opened in quarter

The company said it opened 86 company-operated restaurants in the 3 months ended September 30, 2024, including 73 with a Chipotlane. It expects to open approximately 285 to 315 new company-operated restaurants in 2024 and approximately 315 to 345 in 2025.

Source · Based on the MD&A text of the filing

Liquidity and remaining buyback authorization

Chipotle Mexican Grill said it held cash and marketable investments of $2.2 billion as of September 30, 2024. It said $1,059.6 million remained available for share repurchases and $500.0 million was undrawn under its borrowing facility.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.