In an April 24^th release, Chipotle Mexican Grill (CMG) reported on the 1^st quarter of fiscal 2024 ending March 31^st.

For the period, the company earned $359 million on total revenue of $2,702 million including delivery payments, generating a diluted EPS of $13.01.  For comparable Q1 of fiscal 2023, Chipotle earned $292 million on total revenue of $2,369 million with a diluted EPS of $10.50.  

Total revenue increased by 14.1 percent over Q1 FY 2023 and comparative same store sales were up by 7.0 percent. Digital sales represented 37 percent of revenue in the most recent quarter. Operating margin increased from 25.6 percent to 27.5 percent in Q1 2024.

During the Q1, Chipotle opened 47 new stores, with 43 equipped for drive-through service. Chipotle operates 3,484 stores with average sales of $3.1 million.

In commenting on results, Brian Niccol, Chairman and CEO stated "We had another outstanding quarter driven by our improvement in throughput and successful marketing initiatives, including Braised Beef Barbacoa and Chicken Al Pastor, which drove strong sales and transactions. The results we are seeing from our focus on developing exceptional people, preparing delicious food and fast throughput gives me confidence that we can achieve our long-term target of more than doubling our business in North America and expanding internationally,"

For 2024 Management projected a sales increase of “mid to high single digits,” a range of 285 to 315 new stores with 80 percent equipped for drive through delivery.

On March 31^st Chipotle Mexican Grill posted assets of $8,411 million with long-term lease obligations of $3,903 million.  Market capitalization was $87,540 million on April 26^th.  During the past 52-weeks, CMG has traded over a range of $1,540 to $3,200 with a 50-day moving average of $2,817. CMG closed pre-release on April 24^th at $2,933 but rose on the open on April 25^th post-release to $3,000, rising subsequently with the market to close at $3,188 on April 26^th.  On a trailing twelve-month basis, operating margin was 16.5 percent and profit margin 12.7 percent.  The Company generated returns of 13.5 percent on assets and 44.4 percent on equity.