Chipotle Mexican Grill (CMG) Q1 2026 earnings
CNBC • • business
Key Points:
- Chipotle Mexican Grill reported a 0.5% increase in same-store sales for Q1, surpassing Wall Street expectations of a 0.7% decline, signaling a potential recovery from last year's challenges.
- The company posted first-quarter net income of $302.8 million, or 23 cents per share, down from $386.6 million a year earlier, impacted by higher tax rates, wage inflation, and rising beef costs.
- Revenue rose 7.4% to $3.09 billion, aided by new store openings, and adjusted earnings per share of 24 cents met analyst expectations.
- CEO Scott Boatwright noted the results exceeded the company’s expectations, with restaurant traffic increasing by 0.6%, reversing prior declines in customer visits.
- Chipotle maintained its full-year guidance of flat same-store sales, describing the outlook as conservative amid ongoing economic volatility and geopolitical tensions affecting consumer behavior.
