In a July 26th release, Chipotle Mexican Grill (CMG) reported on the second quarter of fiscal 2023 ending June 30th.
For the period, the company earned $342 million on total revenue of $2,515 million including delivery payments with a diluted EPS of $12.32. For the comparable Q2 of fiscal 2022, Chipotle earned $260 million on total revenue of $2,213 million with a diluted EPS of $9.25. Total revenue increased by 13.6 percent and comparative same store sales were up by 7.4 percent. Digital orders represented 38 percent of revenue. During the quarter, Chipotle opened 47 new stores for a total of 3,268 locations.
In commenting on results, Brian Niccol, Chairman and CEO stated, "Chipotle's second quarter results demonstrate our ability to drive strong performance by focusing on exceptional food and exceptional people. Additionally, our investment in our employees, technology, and innovation in our restaurants along with expanding access and convenience in North America and laying the groundwork for international growth, set us up for long term success."
On June 30th Chipotle Mexican Grill posted assets of $7,552 million with long-term lease obligations of $3,643 million. Market capitalization is $57,600 million. During the past fifty-two weeks, CMG has traded in a range of $1,344 to $2,125 with a fifty-day moving average of $2,072. CMG closed pre-release on Tuesday 26thJuly at $2,096 but fell on the open on Thursday to $1,897. On a trailing twelve-month basis, operating margin was 15.2 percent and profit margin 11.5 percent. The Company has generated returns of 12.6 percent on assets and 44.7 percent on equity.