Chipotle reported strong sales growth and record restaurant openings, alongside innovations in equipment aimed at operational efficiency. However, challenges such as a slight margin decline and external factors like weather impacts and commodity costs were noted. Overall, the call reflects a positive sentiment with a focus on growth and innovation.

Company Guidance

During the Chipotle Mexican Grill Fourth Quarter 2024 Results Conference Call, the company provided guidance highlighting key metrics and strategic initiatives. For fiscal year 2024, Chipotle reported a sales growth of approximately 15%, reaching $11.3 billion, driven by a 7.4% increase in comparable store sales, including over 5% transaction growth. Digital sales accounted for $3.9 billion or 35% of total sales. Average unit volumes (AUVs) increased to $3.2 million, and the restaurant-level margin improved by 50 basis points to 26.7%. Adjusted diluted earnings per share (EPS) rose by 24% to $1.12. The company opened a record 304 new restaurants, including 257 with Chipotle lanes. Looking ahead to 2025, Chipotle anticipates annual comparable sales growth in the low- to mid-single-digit range, supported by continued improvements in throughput, a strong marketing plan, and innovative technological advancements. The company also plans to accelerate new restaurant openings, with 315 to 345 expected in 2025, and expand its international footprint, particularly in Canada and the Middle East.

Strong Sales Growth

For the fiscal year 2024, sales grew about 15% to reach $11.3 billion, driven by a 7.4% comp, including over 5% transaction growth. Digital sales of $3.9 billion represented 35% of sales.

Record Restaurant Openings

Chipotle opened a record 304 new restaurants in 2024, including 257 Chipotle lanes. This is the second year in a row of record openings.

Innovative Equipment Rollout

Chipotle is rolling out several pieces of innovative equipment in new restaurant openings, including produce slicers, dual-sided planchas, and dual-vat fryers, aimed at improving efficiency and product consistency.

Positive Transaction Growth

Transactions grew by 4% in the fourth quarter, driven by improved throughput and the successful rollout of Brisket as a limited-time offer.

Employee Growth and Development

Over 23,000 employees were promoted in 2024, with over 85% of restaurant management roles filled internally, highlighting strong leadership development within the company.

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Chipotle (CMG) Earnings, Revenues Date & History

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CMG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 26, 2018	2018 (Q2)	- / 2.87	2.32	23.71% (+0.55)	―	―
Oct 25, 2018	2018 (Q3)	- / 2.16	1.33	62.41% (+0.83)	―	―
Feb 06, 2019	2018 (Q4)	- / 1.72	1.34	28.36% (+0.38)	―	―
Apr 24, 2019	2019 (Q1)	- / 3.40	2.13	59.62% (+1.27)	―	―
Jul 23, 2019	2019 (Q2)	- / 3.99	2.87	39.02% (+1.12)	―	―
Oct 22, 2019	2019 (Q3)	- / 3.82	2.16	76.85% (+1.66)	―	―
Feb 04, 2020	2019 (Q4)	- / 2.86	1.72	66.28% (+1.14)	―	―
Apr 21, 2020	2020 (Q1)	- / 3.08	3.4	-9.41% (-0.32)	―	―
Jul 22, 2020	2020 (Q2)	- / <0.01	0.08	-90.00% (-0.07)	―	―
Oct 21, 2020	2020 (Q3)	- / 0.07	0.076	-1.32% (>-0.01)	―	―

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

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CMG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 04, 2025	$59.02	$57.51	-2.56%
Oct 29, 2024	$60.49	$55.73	-7.87%
Jul 24, 2024	$51.78	$50.82	-1.85%
Apr 24, 2024	$58.54	$62.24	+6.32%

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.

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