Chipotle reported first quarter revenue of $3.1 billion, a 7.4% year-over-year increase, and diluted EPS of $0.23. The company's adjusted EPS of $0.24 met analyst estimates. Comparable restaurant sales returned to positive territory with a 0.5% increase, exceeding expectations for a decline.
Key Highlights
- Comparable restaurant sales grew 0.5%, driven by a 0.6% increase in transactions which offset a 0.1% decline in average check, reversing a multi-quarter trend of negative guest traffic.
- Adjusted restaurant-level operating margin contracted to 23.7% from 26.2% year-over-year, primarily due to wage inflation and higher food costs for beef and freight.
- The company opened 49 new restaurants during the quarter and reiterated its full-year 2026 outlook for comparable restaurant sales to be about flat.