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Mar 31, 2024
Chipotle Q1 2024 Earnings Report
Chipotle's Q1 2024 earnings were announced, demonstrating strong comparable sales growth and margin expansion.
Key Takeaways
Chipotle reported a 14.1% increase in total revenue to $2.7 billion, driven by a 7.0% increase in comparable restaurant sales. Diluted earnings per share increased by 23.9% to $13.01, and adjusted diluted earnings per share was $13.37. The company opened 47 new restaurants, including 43 with a Chipotlane.
Total revenue increased by 14.1% to $2.7 billion.
Comparable restaurant sales increased by 7.0%.
Diluted earnings per share increased by 23.9% to $13.01.
47 new restaurants were opened, including 43 Chipotlanes.
Revenue by Geographic Location
Forward Guidance
For 2024, Chipotle anticipates full year comparable restaurant sales growth in the mid to high-single digit range, 285 to 315 new restaurant openings with over 80% having a Chipotlane, and an estimated underlying effective full year tax rate between 25% and 27% before discrete items.
Positive Outlook
- Full year comparable restaurant sales growth in the mid to high-single digit range
- 285 to 315 new restaurant openings
- Over 80% of new restaurants having a Chipotlane
- Estimated underlying effective full year tax rate between 25% and 27% before discrete items
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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