Welcome to our dedicated page for Chipotle Mexican Grill news (Ticker: CMG), a resource for investors and traders seeking the latest updates and insights on Chipotle Mexican Grill stock.
Chipotle Mexican Grill, Inc. (NYSE: CMG), a leader in the fast-casual dining industry, is dedicated to serving responsibly sourced, classically-cooked, real food without artificial colors, flavors, or preservatives. Known for its high-quality raw ingredients and distinctive atmosphere, Chipotle aims to provide an exceptional dining experience more akin to fine dining.
Founded on the principle that fast food does not need to compromise on quality, Chipotle offers a menu featuring burritos, burrito bowls, tacos, quesadillas, and beverages. As of December 31, 2023, the company operated over 3,400 restaurants worldwide, including locations in the United States, Canada, the United Kingdom, France, Germany, and Kuwait. The company has plans for continued growth, recently signing a development agreement with Alshaya Group to expand in the Middle East.
In 2023, the company reported systemwide sales of $9.9 billion and continues to innovate with new menu items, such as the popular Chicken al Pastor, which quickly became a fan favorite. Chipotle has also made significant strides in the digital space, with 36.5% of its revenue in Q1 2024 coming from digital sales. The company remains committed to sustainability and technology, aiming to make its high-quality food more accessible to a broader audience.
Financially, Chipotle is robust, reporting $2.7 billion in revenue for Q1 2024, a 14.1% increase year-over-year. The company achieved a net income of $359.3 million, or $13.01 per diluted share, in the same quarter. Chipotle's restaurant-level operating margin stood at 27.5%, reflecting strong operational efficiency.
Partnerships and community engagement are also key aspects of Chipotle's strategy. The company is the official Mexican-themed quick service and fast-casual restaurant of the NHL and actively supports youth and national hockey teams. Chipotle is recognized for its employee engagement and opportunities for advancement, making it a desirable workplace for over 115,000 passionate employees.
Looking ahead, Chipotle aims to sustain its growth trajectory with plans for more restaurant openings, continued focus on digital ordering, and adherence to sustainable business practices. For more information or to place an order, visit www.chipotle.com.
Chipotle Mexican Grill (NYSE: CMG) reported strong second quarter 2024 results, with total revenue increasing 18.2% to $3.0 billion. Comparable restaurant sales rose 11.1%, driven by an 8.7% increase in transactions and a 2.4% increase in average check. The company's operating margin expanded to 19.7%, up from 17.2% in the previous year. Diluted earnings per share grew 32.0% to $0.33, while adjusted diluted EPS increased 36.0% to $0.34.
Chipotle opened 52 new company-operated restaurants during the quarter, with 46 locations including a Chipotlane. Digital sales represented 35.3% of total food and beverage revenue. The company also completed a 50-for-1 stock split and repurchased $151.4 million of stock. For the full year 2024, Chipotle anticipates mid to high-single digit comparable restaurant sales growth and plans to open 285 to 315 new restaurants.
Chipotle Mexican Grill announced the retirement of CFO Jack Hartung on March 31, 2025, after nearly 25 years with the company. Adam Rymer, a 15-year Chipotle veteran, will succeed Hartung as CFO starting January 1, 2025. Rymer, currently Vice President of Finance, will report to CEO Brian Niccol. Hartung will remain with the company until his retirement to ensure a smooth transition. Additionally, Jamie McConnell will take on the role of Chief Accounting and Administrative Officer, reporting to Rymer from January 1, 2025. McConnell, who joined Chipotle in 2018, is currently Vice President, Controller. Both Rymer and McConnell have been mentored by Hartung and are expected to uphold Chipotle's growth and financial strategies.
Chipotle is celebrating American athletes by introducing their favorite menu items as -time digital offerings on the Chipotle app and website. Featuring athletes like Anthony Edwards, Sophia Smith, Taylor Fritz, Sara Hughes, and Jagger Eaton, the menu includes items like the Anthony Edwards Bowl and the Sophia Smith Burrito. Additionally, Chipotle is launching new episodes of its 'Unwrapped' series, which offer behind-the-scenes insights into the athletes' training. Starting July 25, Chipotle will reintroduce gold foil-wrapped burritos in the U.S. and for the first time in France. Chief Brand Officer Chris Brandt expressed hopes that showcasing these athletes' stories will inspire future generations.
Chipotle Mexican Grill (NYSE: CMG) has announced the completion of a significant 50-for-1 stock split, effective after market close on June 25, 2024. Shareholders of record as of June 18, 2024, received 49 additional shares for each share held. This stock split aims to enhance ownership accessibility among team members and new investors. To honor this occasion and the company's robust performance, Chipotle is granting a special one-time equity award to all restaurant general managers and crew members with over 20 years of service.
Chipotle Mexican Grill (NYSE: CMG) has launched an initiative allowing superfans to apply for its exclusive Celebrity Card for the first time. From June 24 to July 3, fans can submit applications through LinkedIn's Easy Apply, including creative content like videos, photos, essays, or artwork explaining why they deserve the card. Winners get a year of free Chipotle meals and a large catering order. The decision to open applications aligns with the growing Gen Z presence on LinkedIn. The program aims to deepen Chipotle's connection with its most devoted customers.
Chipotle Mexican Grill (NYSE: CMG) announced a historic 50-for-1 stock split approved by shareholders during the annual meeting. This is one of the largest stock splits in NYSE history. Shareholders of record as of June 18, 2024, will receive 49 additional shares for each share held, and the post-split trading will commence on June 26, 2024. The stock split aims to make shares more accessible to employees and a wider range of investors. Additionally, Chipotle will offer a special equity grant to restaurant general managers and crew members with over 20 years of service.
Chipotle Mexican Grill (NYSE: CMG) will announce its second quarter 2024 financial results on July 24, 2024. The company will host a conference call at 4:30 PM Eastern time to discuss the results and provide a business update for the third quarter to date. A press release detailing the financial performance for Q2 2024 will be issued at around 4:10 PM Eastern time on the same day. Participants can join the call using the provided dialing numbers and code, and the call will be webcast live on the company's investor relations page. An archived version will be available one hour after the call ends.
Chipotle Mexican Grill (NYSE: CMG) has launched a new promotion named 'Free Throws, Free Codes' for the 2024 men's professional basketball championship series. Fans can receive free entrée codes when players make all their free throws during games. Each successful free throw will trigger a drop of 500 codes via a tweet from @ChipotleTweets on X/Twitter. Fans need to text the designated code to 888222 to claim their free meal. Up to 17,500 free entrees will be given per game. This initiative aims to reward fans and celebrate perfect free throws on basketball’s biggest stage. The promotion is part of Chipotle's 'Real Food for Real Athletes' platform and continues their tradition of engaging basketball fans with free food. The campaign follows last year's successful 'Freepointer' program.
Chipotle Mexican Grill (NYSE: CMG) is awarding 100,000 healthcare workers with free burrito e-cards, totaling over $1 million in free food. The brand has given away over $5 million to healthcare professionals in the past. The initiative runs from May 6 to May 10, with winners randomly selected to receive free burrito e-cards after verification. Chipotle is also matching 10% of designated Healthcare Heroes E-Gift Card purchases and donating to the American Nurses Foundation to support nurses across the U.S.
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