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Dec 31, 2025
Chipotle Q4 2025 Earnings Report
Reported revenue growth driven by new restaurant openings despite lower comparable sales.
Key Takeaways
Chipotle posted Q4 2025 revenue growth supported by new restaurant openings and gift card breakage, while comparable restaurant sales declined due to lower transactions. Earnings remained stable and restaurant-level margins stayed strong.
Revenue grew year over year to nearly $3.0 billion in Q4 2025
Comparable restaurant sales declined due to lower traffic
Restaurant-level operating margin remained above 23%
EPS remained flat year over year despite cost pressures
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For 2026, Chipotle expects stable comparable sales and continued restaurant expansion under its Recipe for Growth strategy.
Positive Outlook
- Comparable restaurant sales expected to be approximately flat
- Planned opening of 350 to 370 new restaurants
- Majority of new restaurants to include Chipotlanes
- Continued focus on throughput and operational efficiency
- Strong balance sheet to support growth initiatives
Challenges Ahead
- Ongoing wage inflation pressures
- Commodity and input cost volatility
- Tariff-related cost impacts persist
- Consumer spending environment remains uncertain
- Execution risk associated with rapid expansion
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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