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Chipotle Mexican Grill Inc (CMG) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Chipotle Mexican Grill Inc

CIK: 1058090 Ticker: CMG

 

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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Inside Chipotle Mexican Grill Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet (Parenthetical)
Condensed Consolidated Statement Of Cash Flows
Condensed Consolidated Statement Of Comprehensive Income
Condensed Consolidated Statement Of Income
Basis Of Presentation
Basis Of Presentation (Narrative) (Details)
Commitments And Contingencies
Commitments And Contingencies (Narrative) (Details)
Corporate Restructuring Costs
Corporate Restructuring Costs (Narrative) (Details)
Corporate Restructuring Costs (Reconciliation Of Restructuring Liability) (Details)
Corporate Restructuring Costs (Schedule Of Restructuring Costs) (Details)
Corporate Restructuring Costs (Tables)
Earnings Per Share
Earnings Per Share (Basic And Diluted Earnings Per Share) (Details)
Earnings Per Share (Stock Awards Excluded From The Calculation Of Diluted Eps) (Details)
Earnings Per Share (Tables)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Narrative) (Details)
Income Taxes
Income Taxes (Narrative) (Details)
Income Taxes (Schedule Of Effective Tax Rate) (Details)
Income Taxes (Tables)
Recent Accounting Standards
Recent Accounting Standards (Narrative) (Details)
Restaurant Closure Costs And Impairment Of Long-Lived Assets
Restaurant Closure Costs And Impairment Of Long-Lived Assets (Narrative) (Details)
Restaurant Closure Costs And Impairment Of Long-Lived Assets (Schedule Of Impairment Charges) (Details)
Restaurant Closure Costs And Impairment Of Long-Lived Assets (Schedule Of Reconciliation Of The Impairment Liability) (Details)
Restaurant Closure Costs And Impairment Of Long-Lived Assets (Tables)
Revenue Recognition
Revenue Recognition (Gift Card Liability) (Details)
Revenue Recognition (Narrative) (Details)
Revenue Recognition (Revenue Recognized From Liability Balances) (Details)
Revenue Recognition (Tables)
Shareholders' Equity
Shareholders' Equity (Common Stock Repurchases) (Details)
Shareholders' Equity (Narrative) (Details)
Shareholders' Equity (Tables)
Stock-Based Compensation
Stock-Based Compensation (Narrative) (Details)
Stock-Based Compensation (Stock-Based Compensation Expense) (Details)
Stock-Based Compensation (Tables)

Material Contracts, Statements, Certifications & more

Chipotle Mexican Grill Inc provided additional information to their SEC Filing as exhibits

Ticker: CMG
CIK: 1058090
Form Type: 10-Q Quarterly Report
Accession Number: 0001058090-18-000055
Submitted to the SEC: Thu Oct 25 2018 10:33:09 AM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Sunday, September 30, 2018
Industry: Retail Eating Places

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