COMPARABLE SALES INCREASE 7% DRIVEN BY OVER 5% TRANSACTION GROWTH AS MARGINS EXPAND

NEWPORT BEACH, Calif., April 24, 2024 /PRNewswire/ - - Chipotle Mexican Grill, Inc. (NYSE: CMG) today reported financial results for its first quarter ended March 31, 2024.

First quarter highlights, year over year:

• Total revenue increased 14.1% to $2.7 billion

• Comparable restaurant sales increased 7.0%

• Operating margin was 16.3%, an increase from 15.5%

• Restaurant level operating margin was 27.5%1, an increase of 190 basis points

• Diluted earnings per share was $13.01, a 23.9% increase from $10.50. Adjusted diluted earnings per share, which excluded a $0.36 after-tax impact from an increase in legal reserves, was $13.371, a 27.3% increase from $10.501.

• Opened 47 new restaurants with 43 locations including a Chipotlane