CMG

EX-99.1

2 cmg-20261028xex991.htm

EX-99.1

Document

Exhibit 99.1

EARNINGS RELEASE

PR Contact: Laurie Schalow

(949) 524-4035

MediaRelations@chipotle.com

IR Contact: Christian D'Souza

(949) 524-4075

Christian.DSouza@chipotle.com

CHIPOTLE ANNOUNCES THIRD QUARTER 2026 RESULTS

COMPARABLE RESTAURANT SALES INCREASE 2.1% AS CHIPOTLE DELIVERS A THIRD CONSECUTIVE QUARTER OF POSITIVE TRANSACTION GROWTH

NEWPORT BEACH, Calif. – October 28, 2026 – Chipotle Mexican Grill, Inc. (NYSE: CMG) today reported financial results for its third quarter ended September 30, 2026.

Third quarter highlights, year over year:

•Total revenue increased 9.6% to $3.3 billion

•Comparable restaurant sales increased 2.1%

•Operating margin was 13.7%, a decrease from 15.9%

•Restaurant level operating margin1 was 23.3%, a decrease from 24.5%

•Diluted earnings per share was $0.27, a 6.9% decrease from $0.29

•Adjusted diluted earnings per share1 was $0.27, a 6.9% decrease from $0.29

•Opened 84 company-owned restaurants, with 53 locations including a Chipotlane. We also opened five international partner-operated restaurants.

“Three consecutive quarters of positive comparable transaction growth demonstrates that our Recipe for Growth strategy is working,” said Scott Boatwright, Chief Executive Officer, Chipotle. “We're gaining traction with menu and digital innovation, making significant progress on our high-efficiency equipment rollout, and accelerating our global expansion with entry into three new markets this quarter. These achievements reinforce our confidence in the strategy and our ability to execute as we build Chipotle into an iconic global brand.”

Results for the three months ended September 30, 2026:

Total revenue in the third quarter of 2026 was $3.3 billion, an increase of 9.6% compared to the third quarter of 2025. The increase was driven by new restaurant openings and, to a lesser extent, comparable restaurant sales. Comparable restaurant sales increased 2.1%, including a 1.3% increase in average check and a 0.8% increase in transactions. Digital sales represented 38.8% of total food and beverage revenue for the three months ended September 30, 2026, an increase from 36.7% for the three months ended September 30, 2025.

During the third quarter we opened 84 company-owned restaurants, of which 53 included a Chipotlane, and five international partner-operated restaurants. Chipotlanes continue to perform well and are helping enhance guest access and convenience, as well as increase new restaurant sales, margins and returns.

Food, beverage and packaging costs in the third quarter of 2026 were 29.5% of total revenue, a decrease from 30.0% in the third quarter of 2025. The decrease was primarily driven by the benefit of menu price increases, tariff relief, and favorable limited-time offer mix. These benefits were partially offset by inflation, primarily in beef and freight, and higher protein usage.

1Restaurant level operating margin, adjusted diluted earnings per share, adjusted net income, adjusted general and administrative expenses, and non-GAAP effective income tax rate are non-GAAP financial measures. Reconciliations to GAAP measures and further information are set forth in the table at the end of this press release.

Labor costs in the third quarter of 2026 were 25.7% of total revenue, an increase from 25.2% in the third quarter of 2025. The increase was primarily driven by lower sales volumes, higher employee compensation, including wage inflation and performance-based bonuses, additional restaurant labor supporting operational execution including promotional activities, and increased insurance costs. These headwinds were partially offset by the benefit from menu price increases.

General and administrative expenses for the third quarter of 2026 were $185.2 million, compared to $146.7 million in the third quarter of 2025. The increase was driven by stock-based compensation, performance bonuses, and outside services related to corporate initiatives. Adjusted general and administrative expenses1 for the third quarter of 2026 were $183.8 million, compared to $138.7 million in the third quarter of 2025.

The effective income tax rate for the third quarter of 2026 was 25.6%, an increase from 23.1% in the third quarter of 2025. The increase was primarily due to an increase in nondeductible expenses and a reduction in tax credits.

Net income for the third quarter of 2026 was $339.9 million, or $0.27 per diluted share, compared to $382.1 million, or $0.29 per diluted share, in the third quarter of 2025. Adjusted net income1 for the third quarter of 2026 was $344.6 million, or $0.27 per adjusted diluted share, compared to $389.9 million, or $0.29 per adjusted diluted share, in the third quarter of 2025.

During the third quarter of 2026 we repurchased $110.0 million of stock at an average price per share of $34.05. As of September 30, 2026, $1.6 billion remained available under share repurchase authorizations from our Bo

EX-99.1

2 cmg-20260729xex991.htm

EX-99.1

Document

Exhibit 99.1

EARNINGS RELEASE

PR Contact: Laurie Schalow

(949) 524-4035

MediaRelations@chipotle.com

CHIPOTLE RAISES FULL YEAR COMPARABLE SALES GUIDANCE ON STRONG Q2 MOMENTUM

"RECIPE FOR GROWTH" STRATEGY YIELDS COMPARABLE RESTAURANT SALES OF 2.2% ON SECOND CONSECUTIVE QUARTER OF IMPROVING TRANSACTION COMP

NEWPORT BEACH, Calif. – July 29, 2026 – Chipotle Mexican Grill, Inc. (NYSE: CMG) today reported financial results for its second quarter ended June 30, 2026.

Second quarter highlights, year over year:

•Total revenue increased 9.3% to $3.3 billion

•Comparable restaurant sales increased 2.2%

•Operating margin was 15.7%, a decrease from 18.2%

•Restaurant level operating margin1 was 25.2%, a decrease from 27.4%

•Diluted earnings per share remained flat at $0.32

•Adjusted diluted earnings per share1 remained flat at $0.33

•Opened 100 company-owned restaurants, with 80 locations including a Chipotlane. We also opened one international partner-operated restaurant.

“Our positive results reflect the momentum we're building as our Recipe for Growth strategy continues to take shape,” said Scott Boatwright, Chief Executive Officer, Chipotle. “We're seeing encouraging progress because we're focused on the right growth drivers—bringing meaningful menu innovation to our guests, deepening engagement through Chipotle Rewards, elevating hospitality in every restaurant, and expanding opportunities to serve more group occasions. These efforts are building a stronger business and reinforcing our confidence in Chipotle's ability to deliver sustainable long-term growth and shareholder value.”

Results for the three months ended June 30, 2026:

Total revenue in the second quarter of 2026 was $3.3 billion, an increase of 9.3% compared to the second quarter of 2025. The increase was driven by new restaurant openings and, to a lesser extent, comparable restaurant sales. Comparable restaurant sales increased 2.2%, consisting of a 1.2% increase in average check and a 1.0% increase in transactions. Digital sales represented 38.3% of total food and beverage revenue for the three months ended June 30, 2026, an increase from 35.5% for the three months ended June 30, 2025.

During the second quarter we opened 100 company-owned restaurants, of which 80 included a Chipotlane, and one international partner-operated restaurant. Chipotlanes continue to perform well and are helping enhance guest access and convenience, as well as increase new restaurant sales, margins and returns.

Food, beverage and packaging costs in the second quarter of 2026 were 29.7% of total revenue, an increase from 28.9% in the second quarter of 2025. The increase was driven by inflation, primarily from beef and freight, and higher protein and produce usage. These increases were partially offset by the benefit of menu price increases and lower avocado and dairy costs.

Labor costs in the second quarter of 2026 were 25.0% of total revenue, an increase from 24.7% in the second quarter of 2025. The increase was primarily driven by higher employee compensation, including wage inflation and performance-based bonuses, and additional restaurant labor supporting operational execution, including hospitality initiatives. These headwinds were partially offset by the benefit from menu price increases.

1Restaurant level operating margin, adjusted diluted earnings per share, adjusted net income, adjusted general and administrative expenses, and non-GAAP effective income tax rate are non-GAAP financial measures. Reconciliations to GAAP measures and further information are set forth in the table at the end of this press release.

General and administrative expenses for the second quarter of 2026 were $190.5 million, compared to $172.2 million in the second quarter of 2025. The increase was driven by legal reserves, performance bonuses, wages, and restructuring costs, partially offset by lower stock-based compensation. Adjusted general and administrative expenses1 for the second quarter of 2026 were $176.2 million, compared to $159.9 million in the second quarter of 2025.

The effective income tax rate for the second quarter of 2026 was 24.3%, a decrease from 24.5% in the second quarter of 2025. The decrease was primarily due to an increase in U.S. federal income tax credits, partially offset by lower tax benefits from stock option exercises and equity vesting.

Net income for the second quarter of 2026 was $403.5 million, or $0.32 per diluted share, compared to $436.1 million, or $0.32 per diluted share, in the second quarter of 2025. Adjusted net income1 for the second quarter of 2026 was $418.9 million, or $0.33 per adjusted diluted share, compared to $450.4 million, or $0.33 per adjusted diluted share, in the second quarter of 2025.

During the second quarter of 2026 we repurchased $630.7 million of stock at an average price per share of $32.55. As of June 30, 2026, $1.7 billion remained available under share repurc

EX-99.1

2 cmg-20260429xex991.htm

EX-99.1

Document

Exhibit 99.1

EARNINGS RELEASE

PR Contact: Laurie Schalow

(949) 524-4035

MediaRelations@chipotle.com

IR Contact: Cindy Olsen, CFA

(949) 524-4205

Cindy.Olsen@chipotle.com

CHIPOTLE ANNOUNCES FIRST QUARTER 2026 RESULTS

RETURN TO POSITIVE TRANSACTIONS DRIVES 0.5% COMPARABLE RESTAURANT SALES GROWTH; REVENUE INCREASES 7.4% TO $3.1 BILLION

NEWPORT BEACH, Calif. – April 29, 2026 – Chipotle Mexican Grill, Inc. (NYSE: CMG) today reported financial results for its first quarter ended March 31, 2026.

First quarter highlights, year over year:

•Total revenue increased 7.4% to $3.1 billion

•Comparable restaurant sales increased 0.5%

•Operating margin was 12.9%, a decrease from 16.7%

•Adjusted restaurant level operating margin1 was 23.7%, a decrease from 26.2%

•Diluted earnings per share was $0.23, a 17.9% decrease from $0.28

•Adjusted diluted earnings per share1 was $0.24, a 17.2% decrease from $0.29

•Opened 49 company-owned restaurants, with 42 locations including a Chipotlane.

“Our first quarter exceeded expectations as we advanced our Recipe for Growth strategy, delivering tangible progress across operations, digital, menu innovation, people, and development,” said Scott Boatwright, Chief Executive Officer, Chipotle. “We are excited to welcome a new Chief Brand Officer and a new Chief Digital Officer to further strengthen our value proposition, sharpen our brand messaging, and accelerate innovation—positioning Chipotle for sustained, long-term growth as we advance on our path to becoming a global iconic brand.”

Results for the three months ended March 31, 2026:

Total revenue in the first quarter of 2026 was $3.1 billion, an increase of 7.4% compared to the first quarter of 2025. The increase was driven by new restaurant openings and, to a lesser extent, a 0.5% increase in comparable restaurant sales due to higher transactions of 0.6%, partially offset by a 0.1% decrease in average check. Digital sales represented 38.6% of total food and beverage revenue.

During the first quarter we opened 49 company-owned restaurants, of which 42 included a Chipotlane. Chipotlanes continue to perform well and are helping enhance guest access and convenience, as well as increase new restaurant sales, margins and returns.

Food, beverage and packaging costs in the first quarter of 2026 were 29.6% of total revenue, an increase from 29.2% in the first quarter of 2025. The increase was driven by inflation, primarily in beef and freight, and higher produce usage. These increases were partially offset by lower dairy and avocado costs, and the benefit of menu price increases.

Labor costs in the first quarter of 2026 were 26.1% of total revenue, an increase from 25.0% in the first quarter of 2025. The increase was primarily driven by wage inflation, lower average restaurant sales volumes, and higher benefits expense, including performance-based bonuses. These headwinds were partially offset by the benefit of menu price increases. Excluding a 40 basis point impact from costs related to certain legal proceedings, adjusted labor costs1 were 25.7% of total revenue, compared to 25.0% in the first quarter of 2025.

1Adjusted restaurant level operating margin, adjusted diluted earnings per share, adjusted labor costs, adjusted net income, adjusted general and administrative expenses, and non-GAAP effective income tax rate are non-GAAP financial measures. Reconciliations to GAAP measures and further information are set forth in the table at the end of this press release.

General and administrative expenses for the first quarter of 2026 were $203.7 million, compared to $172.8 million in the first quarter of 2025. The increase was driven by our biennial All Managers Conference held in the first quarter of 2026, performance bonuses and wages, and benefited from lower stock-based compensation. Adjusted general and administrative expenses1 for the first quarter of 2026 were $197.9 million, compared to $160.9 million in the first quarter of 2025.

The effective income tax rate for the first quarter of 2026 was 25.4%, an increase from 22.9% in the first quarter of 2025. The increase was driven by a reduction in tax benefits related to option exercises and equity vesting, fewer tax credits, and an increase in other discrete income tax items.

Net income for the first quarter of 2026 was $302.8 million, or $0.23 per diluted share, compared to $386.6 million, or $0.28 per diluted share, in the first quarter of 2025. Adjusted net income1 for the first quarter of 2026 was $316.2 million, or $0.24 per adjusted diluted share, compared to $396.8 million, or $0.29 per adjusted diluted share, in the first quarter of 2025.

During the first quarter of 2026 we repurchased $700.8 million of stock at an average price per share of $36.14. As of March 31, 2026, $1.0 billion remained available under share repurchase authorizations from our Board of Directors. The repurchase authorization may be modifie