Chipotle (CMG) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Jul 29, 2026

After Close (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

0.32

Last Year’s EPS

0.33

Same Quarter Last Year

Analyst Consensus

Strong Buy

Based on 26 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:Apr 29, 2026|

% Change Since:

Earnings Call Sentiment|Neutral

The call highlighted meaningful top-line momentum (7.4% revenue growth), strong digital and loyalty engagement, successful menu innovation and encouraging early results from operational and technology investments (equipment rollout, digital makeline, AI and pilots). At the same time the company is navigating near-term margin pressure and EPS decline driven by cost inflation (beef, freight, labor), higher operating and marketing spend, and mix/check headwinds. Management communicated an optimistic long-term view with cautious near-term guidance and a clear path to margin improvement in the second half as inflation lapping and pricing/actions take effect.

Company Guidance

Chipotle reiterated full‑year comparable‑sales guidance of “about flat” while expecting Q2 comps of roughly +1%; Q1 results showed sales up 7.4% to $3.1B with comps +0.5% and digital sales of $1.2B (38.6% of total). Pricing ran just under 1% in Q1, is expected to be ~1.5% in Q2 and 1–2% for the full year; cost of sales was 29.6% in Q1 (≈+40 bps), is projected to be ~30% in Q2 with full‑year cost‑of‑sales inflation around 4%. Labor (adjusted) was 25.7% in Q1 (≈+70 bps) and is expected in the low‑25% range in Q2; other operating costs were 15.6% in Q1 (≈+120 bps) and are expected in the high‑14% range in Q2, with marketing 3.4% in Q1 and below 3% expected in Q2 and for the year. They forecast non‑GAAP G&A of about $181M in Q2 (Q1 non‑GAAP $198M, GAAP $204M), depreciation ~3% of sales for 2026, an effective tax rate of ~24–26% for the year, a strong balance sheet with ~$1B cash and no debt, $701M of repurchases completed at a $36.14 average with ~$1B remaining, 49 openings in Q1 (42 Chipotlanes) and a plan for ~350 openings in 2026 (~80% Chipotlane), while loyalty was 32% of sales (up 300 bps YoY) and equipment/digital rollouts target 2,000 HEAT installs and full digital makeline rollout by year‑end.

Revenue and Top-Line Growth

Total revenue grew 7.4% year-over-year to $3.1 billion in Q1 2026, driven by a positive comparable restaurant sales increase of 0.5% and a return to positive transaction growth.

Digital Sales Penetration

Digital sales reached $1.2 billion, representing 38.6% of total sales, with order-ahead surpassing 20% of orders—highlighting strong digital adoption.

Loyalty Program Momentum

Loyalty sales reached 32% of total sales, up 300 basis points versus Q1 2025. Since the relaunch, new member acquisition rose ~25% and loyalty-driven comps have outpaced non-loyalty comps for several quarters.

Menu Innovation Driving Transactions

High-protein line and LTOs performed well: add-on protein appeared in nearly 25% of transactions; Chicken Al Pastor return and Cilantro-Lime Sauce drove incremental transactions (cilantro-lime incidence ~2x Red Chimichurri); protein LTOs historically generate several hundred basis points of transaction lift.

Operational & Technology Progress

High-efficiency equipment package is live in >600 restaurants (+250 vs prior quarter) with reported comp improvements typically in the hundreds of basis points (200–400 bps in tests). Chipotle Kitchen digital makeline is live in >100 restaurants with rollout planned by year-end; AI assistant and drone delivery pilots showing early promise.

New Leadership Appointments

Hired Fernando Machado as Chief Brand Officer and Arlie Sisson as Chief Digital Officer to accelerate brand marketing and digital/loyalty initiatives.

Restaurant Growth and Unit Economics

Opened 49 new restaurants in Q1 (42 Chipotlane). Company remains on track to open ~350 restaurants in 2026. Europe delivered strongest opening-day sales at Westfield Stratford, positive comps across European countries; Europe now in double-digit margins with ~40% ROI in year 2 for new restaurants.

Strong Balance Sheet & Capital Return

Ended the quarter with ~$1.0 billion in cash, restricted cash and investments and no debt. Repurchased $701 million of stock at an average price of $36.14 in Q1 with ~$1.0 billion remaining under authorization.

Chipotle (CMG) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CMG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 29, 2026	2026 (Q2)	0.32 / -	0.33	―	―	―
Apr 29, 2026	2026 (Q1)	0.24 / 0.24	0.29	-17.24% (-0.05)
Feb 03, 2026	2025 (Q4)	0.24 / 0.25	0.25	0.00% (0.00)
Oct 29, 2025	2025 (Q3)	0.29 / 0.29	0.27	7.41% (+0.02)	―
Jul 23, 2025	2025 (Q2)	0.33 / 0.33	0.34	-2.94% (-0.01)	―
Apr 23, 2025	2025 (Q1)	0.28 / 0.29	0.267	8.61% (+0.02)	―
Feb 04, 2025	2024 (Q4)	0.24 / 0.25	0.207	20.77% (+0.04)	―
Oct 29, 2024	2024 (Q3)	0.25 / 0.27	0.227	18.94% (+0.04)	―
Jul 24, 2024	2024 (Q2)	0.32 / 0.34	0.253	34.39% (+0.09)	―
Apr 24, 2024	2024 (Q1)	0.23 / 0.27	0.21	27.14% (+0.06)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CMG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Apr 29, 2026	$32.99	$33.99	+3.03%
Feb 03, 2026	$39.17	$39.93	+1.94%
Oct 29, 2025	$39.76	$32.53	-18.18%
Jul 23, 2025	$52.78	$45.74	-13.34%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.