Exhibit 99.1



 

Picture 1

EARNINGS RELEASE

PR Contact: Laurie Schalow

(303) 222-5912

Lschalow@chipotle.com

 

IR Contact: Coralie Witter

(303) 605-1087

cwitter@chipotle.com



Chipotle ANNOUNCES third QUARTER 2018 RESULTS

EPS NEARLY DOUBLES, AS sales comp accelerateS, and

RESTAURANT marginS EXPAND TO  18.7% Versus Q3-2017



NEWPORT BEACH, Calf.October 25, 2018 – Chipotle Mexican Grill, Inc. (NYSE: CMG) today reported financial results for its

third quarter ended September 30, 2018.

Overview for the three months ended September 30, 2018 as compared to the three months ended September 30, 2017:

·

Revenue increased 8.6% to $1.2 billion

·

Comparable restaurant sales increased 4.4%

·

Digital sales grew 48.3% in the quarter and accounted for 11.2% of sales

·

Restaurant level operating margin was 18.7%, an  increase from 16.1% 

·

Net income was $38.2 million, including the after-tax impact of $22.4 million in expenses related to restaurant asset impairment, corporate restructuring, and certain other costs, a 94.8%  increase from $19.6 million; excluding those items, adjusted net income was  $60.7 million, a 60.3% increase from $37.8 million.1

·

Diluted earnings per share was $1.36, net of a $0.80 after-tax impact from expenses related to restaurant asset impairment, corporate restructuring, and certain other costs, a 97.1%  increase from $0.69. Adjusted diluted earnings per share excluding these charges was $2.16, a 62.4% increase from $1.33.1

·

Opened 28 new restaurants and closed or relocated 32

Overview for the nine months ended September 30, 2018 as compared to the nine months ended September 30, 2017:

·

Revenue increased 8.1% to $3.6 billion

·

Comparable restaurant sales increased 3.3%, which includes 20 basis points of deferred revenue.

·

Digital sales grew 34.4% and accounted for 10.2% of sales

·

Restaurant level operating margin was 19.3%, an increase from 17.6%

·

Net income was $144.5 million, including the after-tax impact of $60.8 million in expenses related to restaurant asset impairment, corporate restructuring, and certain other costs, a 9.1%  increase from net income of $132.5 million; excluding those items, adjusted net income was  $205.4 million, a 36.3% increase from $150.7 million.1

·

Diluted earnings per share was $5.17, net of a $2.17 after-tax impact from expenses related to restaurant asset impairment, corporate restructuring, and certain other costs, a 11.9%  increase from $4.62. Adjusted diluted earnings per share excluding these charges was $7.34, a 39.8% increase from $5.25. 1

·

Opened 97 new restaurants and closed or relocated 42

1 Adjusted net income and adjusted diluted earnings per share 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.

 


The following information was filed by Chipotle Mexican Grill Inc (CMG) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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