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Chipotle Posts Q3 Results

10/25/2021

In an October 21st release, Chipotle Mexican Grill (CMG) reported on the third quarter of fiscal 2021 ending September 30th.

 

For the period, the company earned $519 million on total revenue of $5,586 million including delivery payments with an EPS of $18.22.  For the comparable Q3 of fiscal 2020, Chipotle earned $164 million on total revenue of $4,376 million with an EPS of $5.81.  Total revenue increased by 22 percent and comparative same store sales were up by 15 percent.  Digital orders increased by 8.6 percent and represented 42 percent of revenue.  During the quarter, Chipotle opened forty-one new stores for a total of 2,892 locations.

 

In commenting on results, Brian Niccol, Chairman and CEO stated, "Chipotle's third quarter results demonstrate strong momentum in our business, fueled by a multi-pronged strategy and a passionate team that is delighted to welcome more guests back into our restaurants".  He added, "Our team has proven their ability to be resilient and successfully execute with macro- complexities".

 

Chipotle Mexican Grill posted assets of $6,628 million with long-term lease obligations of $3,275 million.  Market capitalization is $50.5 billion.  During the past fifty-two weeks, CMG has traded in a range of $1,172 to $1,958 with a fifty-day moving average of $1,861.  On a trailing twelve-month basis, operating margin was 11.0 percent and profit margin 9.9 percent.  The Company has generated returns of 8.1 percent on assets and 34.5 percent on equity.