Q1 25 EPS
$0.29
BEAT +4.43%
Est. $0.28
Q1 25 Revenue
$2.88B
MISS 2.39%
Est. $2.95B
vs S&P Since Q1 25
-62.8%
TRAILING MARKET
CMG -30.9% vs S&P +31.8%
Market Reaction
Did CMG Beat Earnings? Q1 2025 Results
Chipotle Mexican Grill delivered a mixed first quarter for 2025, beating on earnings while falling short on revenue as a pullback in consumer spending weighed on same-store sales. The fast-casual chain posted adjusted diluted EPS of $0.29, clearing t… Read more Chipotle Mexican Grill delivered a mixed first quarter for 2025, beating on earnings while falling short on revenue as a pullback in consumer spending weighed on same-store sales. The fast-casual chain posted adjusted diluted EPS of $0.29, clearing the $0.28 consensus estimate by 4.43%, but revenue of $2.88 billion trailed expectations of $2.95 billion despite rising 6.4% year over year. The most telling detail beneath the headline numbers was comparable restaurant sales turning negative for the first time in recent quarters, down 0.4%, with transactions falling 2.3% as weather headwinds and a broader softness across the quick-service industry pressured traffic. Restaurant-level operating margin contracted to 26.2% from 27.5%, hurt by higher food and labor costs including California minimum wage increases. Still, overall operating margin edged up to 16.7% on lower corporate expenses. Management guided for low single-digit comparable sales growth for the full year and 315 to 345 new restaurant openings, with CEO Scott Boatwright expressing confidence in returning to positive transaction comps by the second half of 2025.
Key Takeaways
- • New restaurant openings drove total revenue increase of 6.4%
- • Comparable restaurant sales decreased 0.4% due to lower transactions of 2.3%, partially offset by 1.9% increase in average check
- • Digital sales represented 35.4% of total food and beverage revenue
- • Chipotlanes continue to enhance guest access, convenience, and increase new restaurant sales, margins, and returns
- • Lower general and administrative expenses due to absence of biennial All Managers' Conference and lower legal reserves
- • Food, beverage and packaging costs increased due to inflation in avocados, dairy, and chicken and protein mix shift from limited time offerings
- • Labor costs increased due to lower sales volumes, wage inflation, and California minimum wage increases
CMG YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
CMG Revenue by Segment
With YoY comparisons, source: SEC Filings
“While our first quarter results were impacted by several headwinds including weather and a slowdown in consumer spending, our teams continue to make significant progress improving the execution in our restaurants, innovating our back of house, and building Chipotle into a global iconic brand.”
— Scott Boatwright, Q1 2025 Earnings Press Release
CMG Earnings Trends
CMG vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CMG EPS Trend
Earnings per share: estimate vs actual
CMG Revenue Trend
Quarterly revenue: estimate vs actual
CMG Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | — | — | — | — |
| Q4 25 BEAT FY | $0.24 | $0.25 | +4.73% | $2.98B | +0.62% |
| FY Full Year | $1.16 | $1.14 | -1.39% | $11.93B | +0.15% |
| Q3 25 BEAT | $0.29 | $0.29 | +0.97% | $3.00B | -0.63% |
| Q2 25 BEAT | $0.33 | $0.33 | +1.32% | $3.06B | -1.71% |
| Q1 25 BEAT | $0.28 | $0.29 | +4.43% | $2.88B | -2.39% |