In a July 24^th release, Chipotle Mexican Grill (CMG) reported on the 3^rd quarter of fiscal 2024 ending September 30^th.

For the period, the company earned $387 million on total revenue of $2,794 million including delivery payments, generating a diluted EPS of $0.28.  For comparable Q3 of fiscal 2023, Chipotle earned $313 million on total revenue of $2,472 million.  

Total revenue increased by 13.1 percent over Q3 FY 2023 and comparative same store sales were up by 6.0 percent. Digital sales represented 34 percent of revenue in the most recent quarter. Restaurant operating margin increased from 16 percent to 16.9 percent in Q3 2024.

During Q3, Chipotle opened 86 new stores, with 73 equipped for drive-through service. Chipotle operates 3,662 stores with average annual sales of $0.8 million.

In commenting on results, Scott Boatwright, Interim CEO stated “ Our focus on exceptional people, food and throughput and the long-awaited return of Smoked Brisket drove another quarter of strong results led by transaction growth," said, Chipotle. "Our teams work hard to deliver extraordinary value to our guests as they provide our fresh, delicious and customizable culinary experience, at accessible prices to millions of people every day. They are the backbone of Chipotle and, together with our support centers, we will continue to execute against our five key strategies that help us win today, while we grow our future. This will help us to achieve our long-term target of reaching 7,000 restaurants in North America and move towards a more global brand."

For 2024 Management retained projections with 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 September 30^th Chipotle Mexican Grill posted assets of $9,011 million with long-term lease obligations of $4,213 million.  Market capitalization was $79,320 million on November 7^th.  During the past 52-weeks, CMG has traded over a range of $41.92 to $69.26 with a 50-day moving average of $57.35. CMG closed pre-release on October 29^th at $60.49 but closed on October 30^th post-release at $55.75. On a trailing twelve-month basis, operating margin was 17.5 percent and profit margin 13.5 percent.  The Company generated returns of 14.0 percent on assets and 45.7 percent on equity.