Chipotle Mexican Grill, Inc. reported solid financial results for its fourth quarter and full year 2024. For the fourth quarter, the company achieved a 13.1% increase in total revenue, reaching $2.8 billion. Comparable restaurant sales grew by 5.4%, and the operating margin rose to 14.6%, up from 14.4% in the same quarter last year. However, the restaurant level operating margin slightly decreased to 24.8%, compared to 25.4% in Q4 2023. Diluted earnings per share (EPS) were $0.24, a 20.0% increase from $0.20, while adjusted diluted EPS were $0.25, a 19.0% increase from $0.21.

For the full year 2024, Chipotle's total revenue increased by 14.6% to $11.3 billion, and comparable restaurant sales grew by 7.4%. The operating margin improved to 16.9%, up from 15.8% in 2023, and the restaurant level operating margin increased to 26.7% from 26.2%. Diluted EPS for the year were $1.11, marking a 24.7% increase from $0.89, while adjusted diluted EPS rose by 24.4% to $1.12, compared to $0.90 in 2023.

The company opened 119 company-owned restaurants in Q4, including 95 locations with Chipotlane, and one international licensed restaurant. For the full year, Chipotle opened 304 company-owned restaurants, with 257 locations featuring a Chipotlane, and three international licensed restaurants.

CEO Scott Boatwright highlighted the company's strong performance, driven by increased transactions and expanding margins, along with progress on restaurant operating initiatives and international expansion. Looking ahead, Chipotle aims to reach 7,000 restaurants in North America, further increase average unit volumes (AUVs) beyond $4 million, and continue its growth towards becoming a globally iconic brand.