Chipotle Mexican Grill Inc (CMG) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2020

Chipotle Mexican Grill Inc

CIK: 1058090 Ticker: CMG


Exhibit 99.1


Picture 2


PR Contact: Laurie Schalow

(949) 524-4035


IR Contact: Ashish Kohli, CFA

(949) 524-4132


Q3 Digital Sales tripled Year-Over-Year and accounted for Nearly Half of sales

NEWPORT BEACH, Calf. – October 21, 2020 – Chipotle Mexican Grill, Inc. (NYSE: CMG) today reported financial results for its third quarter ended September 30, 2020.

Third quarter highlights, which incorporate the impact of COVID-19, year over year:


Revenue increased 14.1% to $1.6 billion


Comparable restaurant sales increased 8.3%


Digital sales grew 202.5% and accounted for 48.8% of sales for the quarter


Restaurant level operating margin was 19.5%, a decrease of 1.3%


Diluted earnings per share was $2.82,  net of a $0.94 after-tax impact from expenses related to certain legal proceedings, restaurant asset impairment and closure costs, as well as corporate restructuring and other adjustments,  an 18.7% decrease from $3.47. Adjusted diluted earnings per share excluding these charges was $3.76, a 1.6%  decrease from $3.821


Opened 44 new restaurants and closed three restaurants during the quarter; and about 10 restaurants remain temporarily closed because of COVID-19, mainly inside malls and shopping centers

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.

“I want to thank and acknowledge the incredible Chipotle team members who remain focused on great execution and on advancing our purpose of Cultivating a Better World as demonstrated by our outstanding third quarter results,” said Brian Niccol, Chairman and CEO, Chipotle. “I have never been more confident that Chipotle is a powerful brand committed to fostering a culture that values and champions our diversity, while leveraging the individual talents of all team members. As a result of a strong brand, committed employees, and broad financial strength, we remain excited about Chipotle’s powerful economic model and our long-term potential.”

COVID-19 and Liquidity Update:

The health and well-being of our employees and guests continues to be our top priority. We are benefitting from investments made a few years ago including advanced air filtration systems, sanitizers throughout the restaurant, wellness protocols, and improved handwashing. In addition, we are closely following the recommendations of the CDC and local health departments and have implemented social distancing, wearing face masks, a tamper evident packaging seal for all digital orders, as well as creating the steward role to sanitize high-traffic areas. Collectively, these efforts have made the pivot to enhanced COVID-19 safety protocols much less complicated and give our employees and guests confidence that Chipotle remains steadfast in our commitment to keep them safe as we re-open restaurants for in-restaurant dining.


The following information was filed by Chipotle Mexican Grill Inc (CMG) on Wednesday, October 21, 2020 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.

View differences made from one quarter to another to evaluate Chipotle Mexican Grill Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Chipotle Mexican Grill Inc.


Assess how Chipotle Mexican Grill Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Chipotle Mexican Grill Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors




Learn More
Bullish Bearish Neutral
Filter by Sentiment:
Filter by Category:
Filter by Subcategory:
Cash Flow
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 Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Income
Condensed Consolidated Statements Of Shareholders' Equity
Basis Of Presentation And Update To Accounting Policy
Basis Of Presentation And Update To Accounting Policy (Narrative) (Details)
Basis Of Presentation And Update To Accounting Policy (Policies)
Commitments And Contingencies
Commitments And Contingencies (Narrative) (Details)
Debt (Narrative) (Details)
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)
Leases (Narrative) (Details)
Leases (Schedule Of Lease Expense Components) (Details)
Leases (Schedule Of Supplemental Cash Flow Related To Leases) (Details)
Leases (Tables)
Recent Accounting Standards
Recent Accounting Standards (Narrative) (Details)
Related Party Transactions
Related Party Transactions (Narrative) (Details)
Revenue Recognition
Revenue Recognition (Changes In Liability Balance) (Details)
Revenue Recognition (Liability Included In Unearned Revenue) (Details)
Revenue Recognition (Narrative) (Details)
Revenue Recognition (Revenue Recognized From Liability Balances) (Details)
Revenue Recognition (Tables)
Shareholders' Equity
Shareholders' Equity (Narrative) (Details)
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: 0001058090-20-000041
Submitted to the SEC: Wed Oct 28 2020 5:05:00 PM EST
Accepted by the SEC: Wed Oct 28 2020
Period: Wednesday, September 30, 2020
Industry: Retail Eating Places

External Resources:
Stock Quote
Social Media

Bookmark the Permalink: