Chipotle Mexican Grill ( (CMG) ) has released its Q4 earnings. Here is a breakdown of the information Chipotle Mexican Grill presented to its investors.
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Chipotle Mexican Grill, Inc., a leader in the fast-casual dining sector, is renowned for its commitment to serving responsibly sourced and classically cooked food without artificial ingredients, operating over 3,700 restaurants across North America and Europe.
In its latest earnings report, Chipotle revealed impressive financial growth for the fourth quarter and full year of 2024. With a notable increase in total revenue, driven by a rise in comparable restaurant sales and new restaurant openings, Chipotle continues to expand its presence and enhance customer convenience with its popular Chipotlanes.
Key financial highlights from the report include a 13.1% year-over-year increase in fourth-quarter revenue, reaching $2.8 billion, and a full-year revenue growth of 14.6% to $11.3 billion. The company also reported an increase in diluted earnings per share by 20% for the fourth quarter and 24.7% for the full year. Additionally, Chipotle opened 304 new restaurants in 2024, significantly boosting its footprint.
Despite facing challenges such as increased food and labor costs, Chipotle managed to maintain its operating margins, with a slight decrease in restaurant-level operating margin in the fourth quarter but an overall improvement for the full year. The company’s digital sales also accounted for a significant portion of its revenue, further underscoring its technological advancements.
Looking ahead, Chipotle remains optimistic about 2025, with plans to open additional restaurants and continue its growth trajectory. Management anticipates maintaining comparable restaurant sales growth and expanding its Chipotlane offerings, aiming to achieve ambitious long-term goals in North America and beyond.
