🔹 Adj. EPS: $0.25 (Est. $0.24) 🟢
🔹 Revenue: $2.85B (Est. $2.85B) 🟡
🔹 Q4 Comparable Sales: +5.4% (Est. +5.6%) 🔴
Guidance:
🔹 FY'25 Comparable Sales Growth: Low to mid-single digits (Est. +5.2%) 🔴
🔹 New Restaurant Openings: 315-345 (80% to include a Chipotlane)
Margins & Profitability:
🔹 Operating Margin: 14.6% (Prev. 14.4%)
🔹 Restaurant-Level Operating Margin: 24.8% (Prev. 25.4%)
🔹 Food, Beverage & Packaging Costs: 30.4% of revenue (Prev. 29.7%)
🔹 Labor Costs: 25.2% of revenue (Prev. 25.0%)
🔹 Effective Tax Rate: 24.4% (Prev. 26.2%)
Expansion & Digital Performance:
🔹 New Restaurants in Q4: 119, with 95 including a Chipotlane
🔹 Full-Year New Restaurants: 304, with 257 including a Chipotlane
🔹 Digital Sales Contribution: 34.4% of total revenue
Strategic & Business Updates:
🔸 Price Increases: Implemented 2% menu price hike to offset higher avocado & beef costs
🔸 Consumer Trends: Budget-conscious consumers reacting to higher menu prices
🔸 Supply Chain Risks: Tariffs on Mexico could further increase avocado costs
🔸 CEO Transition: Scott Boatwright officially took over as CEO in November 2024
CEO Scott Boatwright’s Commentary:
🔸 "Chipotle delivered strong transaction-driven comps, expanded margins, and added over 300 new restaurants. We are committed to scaling our brand while focusing on customer experience and operational excellence."