NYSE$CMG

Chipotle Mexican Grill Inc · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Chipotle's Q3 2021 results were driven by a comparable restaurant sales increase of 15.1%.

Chipotle reported strong third-quarter results with a 21.9% increase in total revenue to $2.0 billion, driven by a 15.1% increase in comparable restaurant sales. Digital sales grew 8.6% and accounted for 42.8% of sales. Diluted earnings per share was $7.18, a 154.6% increase from $2.82.

  • Total revenue increased 21.9% to $2.0 billion.
  • Comparable restaurant sales increased 15.1%.
  • Digital sales grew 8.6% and accounted for 42.8% of sales.
  • Diluted earnings per share was $7.18, a 154.6% increase from $2.82.

Headline financials

Total Revenue

$1.95B

Previous: $1.6B+21.9%
EPS (adj)

$0.14

Previous: $0.08+75.0%
Comparable sales change

15.1%

Previous: 8.3%+81.9%
Net restaurant openings

41

Previous: 41+0.0%
Total restaurants

2.9K

Previous: 2.7K+6.7%
Capital Expenditures

-$321M

Previous: -$247M-29.9%
Free Cash Flow

-$116M

Previous: -$167M+30.3%
Net Income

$204M

Previous: $80.2M+154.8%
Operating Income

$240M

Previous: $107M+123.8%
Gross Profit

$858M

Previous: $678M+26.5%
Cash & Equivalents

$721M

Previous: $662M+8.9%
Total Assets

$6.63B

Previous: $5.63B+17.7%
Stock-Based Comp

$36.1M

Previous: $19.8M+82.0%

Revenue & EPS history

Chipotle · Revenue · Quarterly

$1.95B

Q3 2021+21.9%vs Q3 2020
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

Chipotle · $19.9M total across 1 segment · Q3 2021

  • Delivery service
    $19.9M-0.9%

Forward guidance

For Q4, while uncertainty remains on several fronts including the potential impact of COVID-19 as well as inflationary and staffing pressures, we’re encouraged by our strong underlying business momentum and if this trend continues, we expect our comparable restaurant sales to be in the low to mid double-digits range.

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 Q3 2021

Historical avgQ3 2021

+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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