NYSE$CMG
Chipotle Mexican Grill Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Chipotle's Q4 2023 earnings showcased revenue growth and margin expansion.
Chipotle reported a strong Q4 2023 with a 15.4% increase in total revenue to $2.5 billion, driven by an 8.4% increase in comparable restaurant sales. Diluted earnings per share increased by 27.3% to $10.21, and adjusted diluted earnings per share grew by 25.0% to $10.36. The company opened 121 new restaurants, including 110 with a Chipotlane.
- Total revenue increased by 15.4% to $2.5 billion.
- Comparable restaurant sales increased by 8.4%.
- Diluted earnings per share increased 27.3% to $10.21.
- Opened 121 new restaurants, including 110 Chipotlanes.
Headline financials
Revenue & EPS history
Chipotle · Revenue · Quarterly
$2.52B
Revenue by segment
Chipotle · $15.9M total across 1 segment · Q3 2023
- Delivery service$15.9M-10.8%100.0%
Forward guidance
For 2024, Chipotle anticipates full year comparable restaurant sales growth in the mid-single digit range and expects to open between 285 and 315 new restaurants.
Tailwinds
- Full year comparable restaurant sales growth in the mid-single digit range
- Opening between 285 and 315 new restaurants
- Maintaining focus on enhancing guest access and convenience
- Continuing to innovate with throughput and menu offerings
- Expanding industry leading margins and returns
Headwinds
- Developer, permit, inspection, and utility delays could worsen
- Increasing wage inflation and competitive labor market
- Potential impact of union organizing efforts
- Increasing supply costs (including beef, tortillas, queso, salsa, beans and rice)
- Risks of food safety incidents and food-borne illnesses
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 Q4 2023
+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% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro