Chipotle Mexican Grill — Feb 4, 2025 release

Fourth quarter highlights, year over year: • Total revenue increased 13.1% to $2.8 billion • Comparable restaurant sales increased 5.4% • Operating margin was 14.6%, an increase from 14.4% • Restaurant level operating margin was 24.8% 1 , a decrease from 25.4% 1 • Diluted earnings per share was $0.24, a 20.0% increase from $0.20 2 • Adjusted diluted earnings per share was $0.25 1 , a 19.0% increase from $0.21 1, 2 • Opened 119 company-owned restaurants with 95 locations including a Chipotlane, and one international licensed restaurant Full year 2024 highlights, year over year: • Total revenue increased 14.6% to $11.3 billion • Comparable restaurant sales increased 7.4% • Operating margin was 16.9%, an increase from 15.8% • Restaurant level operating margin was 26.7% 1 , an increase from 26.2% 1 • Diluted earnings per share was $1.11, a 24.7% increase from $0.89 2 • Adjusted diluted earnings per share was $1.12 1 , a 24.4% increase from $0.90 1, 2 • Opened 304 company-owned restaurants with 257 locations including a Chipotlane, and three international licensed restaurants "Chipotle had another outstanding year, delivering strong transaction driven comps each quarter, expanding margins, adding over 300 new restaurants, gaining momentum in key industry leading brand metrics, making progress on many restaurant operating initiatives and building our footprint internationally," said Scott Boatwright, CEO, Chipotle. "I want to make sure that as we continue to scale Chipotle, everything we do is in service of our guests or those who serve our guests which will enable us to achieve our long-term ambitious goals of reaching 7,000 restaurants in North America, growing our AUVs beyond $4 million, expanding margins and making progress toward becoming a global iconic brand." 1 Restaurant level operating margin, adjusted diluted earnings per share, adjusted net income, non-GAAP general and administrative expenses, adjusted depreciation and amortization, and non-GAAP effective income tax rate are non-GAAP financial measures. Reconciliations to GAAP measures and further information are set forth in the table at the end of this press release. 2 Prior period results have been retroactively adjusted for the 50-for-1 stock split in June 2024. Results for the three months ended December 31, 2024: Total revenue in the fourth quarter of 2024 was $2.8 billion, an increase of 13.1% compared to the fourth quarter of 2023. The increase in total revenue was driven by new restaurant openings and a 5.4% increase in comparable restaurant sales due to higher transactions of 4.0% and a 1.4% increase in average check. Digital sales represented 34.4% of total food and beverage revenue. During the fourth quarter we opened 119 company-owned restaurants, of which 95 included a Chipotlane, and one international licensed restaurant. Chipotlanes con