NYSE$CMG

Chipotle Mexican Grill Inc · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Chipotle's Q1 2020 performance was impacted by COVID-19, with digital sales growing significantly and comparable restaurant sales initially strong but declining in March.

Chipotle's Q1 2020 revenue increased by 7.8% to $1.4 billion, driven by a 3.3% increase in comparable restaurant sales. Digital sales grew by 80.8%, representing 26.3% of total sales. The company opened 19 new restaurants and closed two. Earnings per share was $2.70, and adjusted earnings per share was $3.08.

  • Revenue increased by 7.8% to $1.4 billion.
  • Comparable restaurant sales increased by 3.3%.
  • Digital sales grew by 80.8% and accounted for 26.3% of sales.
  • Diluted earnings per share was $2.70, while adjusted diluted earnings per share was $3.08.

Headline financials

Total Revenue

$1.41B

Previous: $1.31B+7.8%
EPS (adj)

$0.06

Previous: $0.07-14.3%
Comparable sales change

3.3%

Previous: 9.9%-66.7%
Net restaurant openings

17

No prior period
Total restaurants

2.6K

No prior period
Capital Expenditures

-$77.7M

Previous: -$64.2M-20.9%
Free Cash Flow

-$1.27M

Previous: $23.9M-105.3%
Net Income

$76.4M

Previous: $88.1M-13.3%
Operating Income

$71.1M

Previous: $110M-35.4%
Gross Profit

$555M

Previous: $538M+3.1%
Cash & Equivalents

$500M

Previous: $278M+80.2%
Total Assets

$5.21B

Previous: $4.63B+12.6%
Stock-Based Comp

$17.4M

Previous: $19.2M-9.2%

Revenue & EPS history

Chipotle · Revenue · Quarterly

$1.41B

Q1 2020+7.8%vs Q1 2019
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

Chipotle · $15.9M total across 1 segment · Q3 2023

  • Delivery service
    $15.9M-10.8%

Forward guidance

Given the level of volatility and uncertainty surrounding the future impact of COVID-19 on the broader US economy and any specific impact to our company, we are withdrawing our previous fiscal 2020 guidance related to comparable restaurant sales growth, new restaurant openings, and effective full year tax rate.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

+0.7%

Avg return

Earnings day

+0.5%

Avg return

5 days after

+1.3%

Avg return

30 days after

45%

31 / 69 earnings

Positive

+26.9%

Q1 2018

Best reaction

-20.4%

Q2 2012

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.4%-2.1%-3.3%
Q4 2025+1.9%+1.1%-9.7%
Q3 2025-9.7%-20.2%-13.2%
Q2 2025-13.3%-15.9%-17.3%
Q1 2025+1.6%+3.9%+3.8%
Q4 2024-2.6%-2.1%-14.9%
Q3 2024-8.0%-3.3%+2.4%
Q2 2024-3.3%-3.0%+2.2%
Q1 2024+6.8%+10.1%+8.1%
Q4 2023+7.9%+6.8%+8.9%
Q3 2023+2.5%+5.4%+20.5%
Q2 2023-10.0%-6.2%-10.3%
Q1 2023+11.9%+15.1%+14.5%
Q4 2022-3.7%-6.8%-8.8%
Q3 2022-4.5%-2.6%-2.4%
Q2 2022+13.6%+17.7%+25.2%
Q1 2022-2.7%-4.0%-11.5%
Q4 2021+10.7%+7.5%+1.1%
Q3 2021-1.7%-4.1%-3.7%
Q2 2021+13.2%+18.0%+20.6%
Q1 2021-3.4%-4.0%-13.2%
Q4 2020-0.6%-0.1%-10.5%
Q3 2020-3.6%-2.7%-4.1%
Q2 2020-3.6%-1.7%+7.7%
Q1 2020+9.2%+9.1%+27.0%
Q4 2019-1.6%-0.4%-16.1%
Q3 2019-7.5%-7.5%-9.2%
Q2 2019+4.8%+5.0%+10.3%
Q1 2019-3.5%-3.5%-5.7%
Q4 2018+11.3%+14.6%+17.0%
Q3 2018+6.2%+11.8%+14.1%
Q2 2018+4.7%-4.0%+15.3%
Q1 2018+26.9%+27.1%+28.8%
Q4 2017-9.5%-14.9%+7.2%
Q3 2017-13.6%-13.8%-12.2%
Q2 2017+0.1%+3.1%-11.2%
Q1 2017+3.0%+1.2%+2.7%
Q4 2016-3.8%-5.1%-1.0%
Q3 2016-11.0%-10.5%-0.7%
Q2 2016+5.5%+2.7%-7.4%
Q1 2016-5.9%
Q4 2015-2.3%
Q3 2015-7.4%
Q2 2015+7.1%
Q1 2015-6.7%
Q4 2014-5.1%
Q3 2014-5.3%
Q2 2014+11.4%
Q1 2014-8.3%
Q4 2013+13.9%
Q3 2013+16.3%
Q2 2013+8.8%
Q1 2013+7.6%
Q4 2011+1.6%
Q4 2012+4.0%
Q3 2012-16.2%
Q2 2012-20.4%
Q1 2012-0.3%
Q3 2011+11.2%
Q2 2011+1.7%
Q1 2010-5.4%
Q1 2011+0.7%
Q4 2008-1.5%
Q4 2010-1.5%
Q3 2010+14.5%
Q3 2009+14.5%
Q2 2009-0.3%
Q2 2010-0.3%
Q4 2009-0.3%

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