18 September 2024
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Market + Management

Chipotle: Announces Second Quarter 2024 Results

Newport Beach / CA. (cmg) Chipotle Mexican Grill Inc. reported financial results for its second quarter ended June 30, 2024. Second quarter highlights, year over year:

  • Total revenue increased 18.2 percent to USD 3.0 billion
  • Comparable restaurant sales increased 11.1 percent
  • Operating margin was 19.7 percent, an increase from 17.2 percent
  • Restaurant level operating margin was 28.9 percent1, an increase of 140 basis points
  • Diluted earnings per share was USD 0.33, a 32.0 percent increase from USD 0.25. Adjusted diluted earnings per share, which excluded a USD 0.01 after-tax impact from an unrealized loss on a long-term investment and an increase in legal reserves, was USD 0.341, a 36.0 percent increase from USD 0.251
  • Opened 52 new company-operated restaurants with 46 locations including a Chipotlane, and one international licensed restaurant

Chairman and CEO Brian Niccol: «The second quarter was outstanding as successful brand marketing, including the return of Chicken Al Pastor, drove strong demand to our restaurants. Our focus and training around throughput paid off as we were able to meet the stronger demand trends with terrific service and speed driving over 8 percent transaction growth in the quarter.»

For additional information please read the Company’s PDF file below (93 KB):

20240726-CHIPOTLE-Q22024.


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