Q1 26 EPS
$N/A
Q1 26 Revenue
N/A
vs S&P Since Q1 26
-15.5%
TRAILING MARKET
CMG -10.5% vs S&P +5.0%
Market Reaction
Did CMG Beat Earnings? Q1 2026 Results
Chipotle Mexican Grill closed out 2025 on a note of cautious resilience, posting Q4 earnings per share of $0.25 against a consensus estimate of $0.24, a 4.73% beat, while revenue of $2.98 billion edged past expectations by 0.62% and grew 4.9% year ov… Read more Chipotle Mexican Grill closed out 2025 on a note of cautious resilience, posting Q4 earnings per share of $0.25 against a consensus estimate of $0.24, a 4.73% beat, while revenue of $2.98 billion edged past expectations by 0.62% and grew 4.9% year over year. The story behind the numbers, however, carried more complexity: comparable restaurant sales fell 2.5%, dragged by a 3.2% decline in transactions, making 2025 the company's first full year of negative comp sales, a development that has drawn fresh scrutiny over valuation. New restaurant openings, a record 334 during the year bringing the total to 4,042 company-owned locations, were the primary engine keeping revenue growth positive. Restaurant-level operating margin contracted to 23.4% from 24.8%, reflecting wage inflation and softer volumes. Full coverage of the results details CEO Scott Boatwright's five-pillar "Recipe for Growth" strategy, as management guided 2026 comparable sales to approximately flat with 350 to 370 new restaurant openings planned.
Key Takeaways
- • New restaurant openings drove revenue growth of 4.9% in Q4 and 5.4% for full year
- • Gift card breakage revenue of $27.0 million in Q4, a $19.1 million increase year over year
- • Menu price increases partially offset food cost inflation
- • Lower general and administrative expenses due to reduced stock-based compensation, performance bonuses and legal reserves
- • Digital sales represented 37.2% of Q4 food and beverage revenue
CMG Forward Guidance & Outlook
For 2026, management anticipates full year comparable restaurant sales to be approximately flat. The company expects 350 to 370 new restaurant openings, including 10 to 15 international partner-operated restaurants, with around 80% of company-owned restaurants including a Chipotlane. The estimated underlying effective full year tax rate is expected to be between 24% and 26% before discrete items.
CMG YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
CMG Revenue by Segment
With YoY comparisons, source: SEC Filings
“Through our proven business model, prudent investments in operational excellence and the support of a strong balance sheet, 2025 was a year of progress and resilience for Chipotle. Against a dynamic consumer backdrop, we opened a record number of restaurants globally and grew Q4 and full year revenue.”
— Scott Boatwright, Q1 2026 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% |