Chipotle Mexican Grill – Comparable Restaurant Sales Accelerate To 17.2%; Restaurant Level Margins Expand To 22.3%
NEWPORT BEACH, CA (StLouisRestaurantReview) Chipotle Mexican Grill, Inc. (NYSE: CMG) reported financial results for its first quarter ended March 31, 2021.
Chipotle Mexican Grill – First-quarter highlights, year over year:
- Revenue increased 23.4% to $1.7 billion
- Comparable restaurant sales increased 17.2%
- Digital sales grew 133.9% and accounted for 50.1% of sales
- Restaurant level operating margin was 22.3%, an increase of 470 basis points
- Diluted earnings per share was $4.45, net of a $0.91 after-tax impact from expenses related to the 2018 performance share (“PSU”) modification to account for the unplanned effects of COVID-19, restaurant asset impairment and closure costs, as well as corporate restructuring, a 64.8% increase from $2.70.