NYSE$CMG
Chipotle Mexican Grill Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Chipotle's Q1 2022 earnings were driven by a 9% increase in comparable restaurant sales and new restaurant openings.
Chipotle Mexican Grill, Inc. reported strong first quarter 2022 results, with a 16% increase in total revenue to $2.0 billion and a 9% increase in comparable restaurant sales. The company opened 51 new restaurants, including 42 with a Chipotlane. Diluted earnings per share increased to $5.59, a 25.6% increase from $4.45 in the first quarter of 2021.
- Total revenue increased by 16.0% to $2.0 billion.
- Comparable restaurant sales increased by 9.0%.
- In-restaurant sales increased 33.1%, while digital sales represented 41.9% of food and beverage revenue.
- The company opened 51 new restaurants, including 42 Chipotlanes.
Headline financials
Revenue & EPS history
Chipotle · Revenue · Quarterly
$2.02B
Revenue by segment
Chipotle · $21.6M total across 1 segment · Q1 2022
- Delivery service$21.6M-15.6%100.0%
Forward guidance
For 2022, Chipotle anticipates second quarter comparable restaurant sales growth in the 10% to 12% range and between 235 to 250 new restaurant openings.
Tailwinds
- Second quarter comparable restaurant sales growth, assuming current sales trends continue, in the 10% to 12% range
- Between 235 to 250 new restaurant openings (including 5 to 10 relocations to add a Chipotlane)
- Company is planning on new restaurant openings
- Company is adding Chipotlanes to new restaurants
- Company is planning on relocations to add Chipotlanes
Headwinds
- Assumes construction and permit delays don’t worsen
- Estimated underlying effective full year tax rate between 25% and 27% before discrete items
- Uncertainty regarding the duration and severity of the ongoing COVID-19 pandemic
- Increasing wage inflation and the increasingly competitive labor market
- Increasing supply costs (including beef, avocados and paper)
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 2022
+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
| Quarter | Report date | Reaction (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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