Chipotle (CMG) Q1 2026 earnings summary

Executive summary

• Q1 2026 performance exceeded expectations, with positive transaction growth and strong execution of the "Recipe for Growth" strategy across operations, digital, menu innovation, and talent engagement.

• Innovation in equipment and digital rewards drove productivity, guest satisfaction, and deeper customer engagement.

• Maintained a prudent FY26 outlook amid macroeconomic uncertainty, with transparent cost management and confidence in adaptability.

Financial highlights

• Q1 2026 revenue reached $3.1B, up 7.4% year-over-year.

• Comparable restaurant sales grew 0.5% year-over-year.

• Adjusted restaurant level operating margin was 23.7%, adjusted for legal proceedings.

• Operating margin stood at 12.9%.

• Non-GAAP diluted EPS was $0.24.

• 49 new company-owned restaurants opened in Q1 2026.

• $700M allocated to share repurchases.

Outlook and guidance

• FY26 outlook maintained, with a focus on prudent cost management and adaptability to macroeconomic conditions.

• Continued execution of "Recipe for Growth" initiatives expected to drive further value.