Q1 26 EPS Adjusted
$0.24
BEAT +1.39%
Est. $0.24
Non-GAAP adjustments include $11.875 million in legal proceedings costs in labor, $2.140 million in Recipe for Growth restructuring costs, $0.625 million in legal proceedings in G&A, and $3.007 million in retention stock-based compensation, totaling $17.647 million pre-tax ($13.398 million after tax).
Q1 26 Revenue
$3.09B
vs S&P Since Q1 26
-12.2%
TRAILING MARKET
CMG -4.7% vs S&P +7.5%
Market Reaction
Did CMG Beat Earnings? Q1 2026 Results
Chipotle Mexican Grill delivered a mixed but ultimately resilient first quarter for fiscal 2026, edging past Wall Street expectations on the bottom line even as margin pressures weighed heavily on the overall picture. The Newport Beach-based chain po… Read more Chipotle Mexican Grill delivered a mixed but ultimately resilient first quarter for fiscal 2026, edging past Wall Street expectations on the bottom line even as margin pressures weighed heavily on the overall picture. The Newport Beach-based chain posted adjusted diluted EPS of $0.24, nudging ahead of the $0.24 consensus estimate by 1.39% and extending its streak of beating analyst EPS forecasts to four consecutive quarters. Revenue climbed 7.4% year over year to $3.09 billion, supported by 49 new restaurant openings and a return to positive transaction growth, though a modest 0.5% comparable restaurant sales gain signaled a cautious consumer environment. The headline story, however, was margin compression: operating margin contracted sharply to 12.9% from 16.7% a year ago, driven by wage inflation, elevated beef and freight costs, and a biennial All Managers Conference that inflated G&A meaningfully. Looking ahead, management guided for roughly flat comparable sales and 350 to 370 new openings in 2026, framing the quarter as a transitional period rather than a structural setback.
Key Takeaways
- • Return to positive transaction growth of 0.6% driving 0.5% comparable restaurant sales increase
- • New restaurant openings (49 in Q1, 42 with Chipotlane)
- • Digital sales represented 38.6% of food and beverage revenue
- • Menu price increases partially offset inflation headwinds
CMG YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
CMG Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our first quarter exceeded expectations as we advanced our Recipe for Growth strategy, delivering tangible progress across operations, digital, menu innovation, people, and development.”
— Scott Boatwright, Q1 2026 Earnings Press Release
CMG Earnings Trends
CMG vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CMG EPS Trend
Earnings per share: estimate vs actual
CMG Revenue Trend
Quarterly revenue: estimate vs actual
CMG Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $0.32 | $0.33 | +3.97% | $3.35B | +0.51% |
| Q1 26 BEAT Non-GAAP adjustments include $11.875 million in legal proceedings costs in labor, $2.140 million in Recipe for Growth restructuring costs, $0.625 million in legal proceedings in G&A, and $3.007 million in retention stock-based compensation, totaling $17.647 million pre-tax ($13.398 million after tax). | $0.24 | $0.24 | +1.39% | $3.09B | — |
| Q4 25 BEAT FY | $0.24 | $0.25 | +4.91% | $2.98B | +0.60% |
| FY Full Year | $1.16 | $1.14 | -1.39% | $11.93B | +0.15% |
| Q3 25 BEAT | $0.29 | $0.29 | +0.97% | $3.00B | -0.63% |
| Q2 25 BEAT | $0.33 | $0.33 | +1.32% | $3.06B | -1.71% |
| Q1 25 BEAT | $0.28 | $0.29 | +4.43% | $2.88B | -2.39% |