Chipotle Mexican Grill Inc

CMG

Equity

ISIN US1696561059 / Valor 2319653

New York Stock Exchange, Inc (2024-11-20)

USD 58.88+0.26%

Chipotle Mexican Grill Inc
UMushroom community rating:

4.63 8 votes No rating yet

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About company

Chipotle Mexican Grill Inc. is a prominent player in the fast-casual dining sector, known for its focus on serving fresh, high-quality Mexican-inspired foods such as burritos, tacos, bowls, and salads. Under the leadership of Chairman and CEO Brian Niccol since March 2018, the company has experienced significant sales growth, attributed to a combination of comparable sales increases and the opening of new restaurant locations. Niccol's strategy for the company emphasizes operational excellence, brand equity enhancement, digital access expansion, innovation, and engaging with both employees and consumers to fulfill its mission of Cultivating a Better World. The company's supply chain is managed by Vice President Carlos Londono, who oversees all aspects of procurement, logistics, and continuous improvement, ensuring the integrity and efficiency of the supply chain from farm to restaurant. Scott Boatwright, as Chief Operating Officer, is responsible for overseeing the operations of Chipotle's restaurants and enhancing the People Experience within the company. Chipotle's business model and operational strategies reflect its commitment to providing a unique dining experience while also focusing on growth and operational efficiency.

Summarized from source with an LLMView SourceSector: Consumer Non-Cyclicals

Revenue Growth

Chipotle Mexican Grill Inc. reported total revenue of $3.0 billion for the second quarter of 2024, marking an 18.2% increase compared to the same quarter in 2023. This growth was driven by new restaurant openings and an 11.1% increase in comparable restaurant sales, which included an 8.7% rise in transactions and a 2.4% increase in average check size.

Comparable Sales

In the second quarter of 2024, Chipotle Mexican Grill Inc. saw an 11.1% increase in comparable restaurant sales. This growth was primarily fueled by a significant 8.7% rise in transactions, demonstrating strong customer demand and effective marketing strategies, including the return of popular menu items like Chicken Al Pastor.

Operating Margins

Chipotle Mexican Grill Inc. reported an operating margin of 19.7% for the second quarter of 2024, up from 17.2% in the same period last year. The restaurant-level operating margin also improved to 28.9%, compared to 27.5% in the second quarter of 2023, driven by sales leverage and partially offset by wage and ingredient inflation.

Earnings Per Share

For the second quarter of 2024, Chipotle Mexican Grill Inc. reported diluted earnings per share of $0.33, a 32.0% increase from $0.25 in the second quarter of 2023. Adjusted diluted earnings per share, excluding certain impacts, were $0.34, reflecting a 36.0% increase from $0.25 in the same period last year.

Stock Repurchase

During the second quarter of 2024, Chipotle Mexican Grill Inc. repurchased $151.4 million worth of stock at an average price of $63.52 per share. As of June 30, 2024, the company had $647.7 million remaining under its share repurchase authorizations, including an additional $400 million approved by the Board of Directors on June 5, 2024.

Summarized from source with an LLMView Source

Key figures

34.6%1Y

67.8%3Y

279%5Y

Performance

28.0%1Y

32.5%3Y

35.5%5Y

Volatility