OpenNashEarnings

Restaurants · NYSE: CMG

Chipotle earnings: results, call transcripts & KPI history

2 quarters · fiscal year ends December · next results expected around 2 Feb 2027

Investor relations ↗SEC filings ↗KPIs as CSV

Latest: Q3 2026

Chipotle's third quarter total revenue increased 9.6% to $3.3 billion, comparable restaurant sales increased 2.1%, and diluted earnings per share was $0.27, a 6.9% decrease from $0.29.

Chipotle grew sales 9.6% to $3.3 billion, mostly by opening new restaurants. Comparable restaurant sales rose 2.1%, with transactions up 0.8% for a third straight quarter. Profit fell, though. Operating margin dropped to 13.7% from 15.9%, and diluted earnings per share were $0.27 against $0.29 a year earlier. Higher labor, other operating costs and administrative spending outweighed lower food costs.

Read the Q3 2026 summary →

Quarters

KPI history

Revenue$3.3B+9.6% y/yQ3 2026
Q4 2024: $2.8B (worked out from the annual figure)Q4 ’24$2.8BQ1 2025: $2.9BQ1 ’25$2.9BQ2 2025: $3.1BQ2 ’25$3.1BQ3 2025: $3.0BQ3 ’25$3.0BQ4 2025: $3.0B (worked out from the annual figure)Q4 ’25$3.0BQ1 2026: $3.1BQ1 ’26$3.1BQ2 2026: $3.3BQ2 ’26$3.3BQ3 2026: $3.3BQ3 ’26$3.3B

Fourth quarter worked out from the annual figure.

Data
Q4 2024$2.8B *
Q1 2025$2.9B
Q2 2025$3.1B
Q3 2025$3.0B
Q4 2025$3.0B *
Q1 2026$3.1B
Q2 2026$3.3B
Q3 2026$3.3B
Diluted EPS (GAAP)$0.27−6.9% y/yQ3 2026
Q1 2025: $0.28Q1 ’25$0.28Q2 2025: $0.32Q2 ’25$0.32Q3 2025: $0.29Q3 ’25$0.29Q1 2026: $0.23Q1 ’26$0.23Q2 2026: $0.32Q2 ’26$0.32Q3 2026: $0.27Q3 ’26$0.27
Data
Q1 2025$0.28
Q2 2025$0.32
Q3 2025$0.29
Q1 2026$0.23
Q2 2026$0.32
Q3 2026$0.27

Fourth-quarter EPS appears once the press release is read; filings report it only for the full year.

Operating margin13.7%−2.2 pts y/yQ3 2026
Q4 2024: 14.6%Q4 ’2414.6%Q1 2025: 16.7%Q1 ’2516.7%Q2 2025: 18.2%Q2 ’2518.2%Q3 2025: 15.9%Q3 ’2515.9%Q4 2025: 14.1%Q4 ’2514.1%Q1 2026: 12.9%Q1 ’2612.9%Q2 2026: 15.7%Q2 ’2615.7%Q3 2026: 13.7%Q3 ’2613.7%
Data
Q4 202414.6%
Q1 202516.7%
Q2 202518.2%
Q3 202515.9%
Q4 202514.1%
Q1 202612.9%
Q2 202615.7%
Q3 202613.7%
Free cash flow$347.1M−14.5% y/yQ3 2026
Q4 2024: $353.9MQ4 ’24$353.9MQ1 2025: $412.3MQ1 ’25$412.3MQ2 2025: $400.7MQ2 ’25$400.7MQ3 2025: $406.2MQ3 ’25$406.2MQ4 2025: $228.4MQ4 ’25$228.4MQ1 2026: $471.0MQ1 ’26$471.0MQ2 2026: $463.4MQ2 ’26$463.4MQ3 2026: $347.1MQ3 ’26$347.1M
Data
Q4 2024$353.9M
Q1 2025$412.3M
Q2 2025$400.7M
Q3 2025$406.2M
Q4 2025$228.4M
Q1 2026$471.0M
Q2 2026$463.4M
Q3 2026$347.1M

Operating cash flow minus capital expenditure, from cash flow statements.

Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Revenue$2.8Bd$2.9B$3.1B$3.0B$3.0Bd$3.1B$3.3B$3.3B
Operating income$415.7Md$479.2M$559.1M$477.2M$420.3Md$397.1M$525.6M$452.0M
Operating margin14.6%16.7%18.2%15.9%14.1%12.9%15.7%13.7%
Net income$331.8Md$386.6M$436.1M$382.1M$330.9Md$302.8M$403.5M$339.9M
Diluted EPS—$0.28$0.32$0.29—$0.23$0.32$0.27
Operating cash flow$526.8Md$557.1M$561.3Md$569.7Md$425.8Md$651.4M$680.7Md$590.1Md
Capital expenditure$172.9Md$144.8M$160.6Md$163.5Md$197.5Md$180.3M$217.3Md$243.0Md
Free cash flow$353.9M$412.3M$400.7M$406.2M$228.4M$471.0M$463.4M$347.1M

From XBRL data in 10-Q and 10-K filings. d derived: a fourth quarter is the full year minus the first nine months, and cash flows are year-to-date figures differenced.

10-Q and 10-K filings