CHIPOTLE MEXICAN GRILL INC is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: Chipotle Mexican Grill (CMG) reported Q1 2026 revenue growth of 7.4% to $3.09B, but operating income fell 17.1% and net income dropped 21.7% year-over-year, reflecting significant margin compression even as operating cash flow improved 16.9%.
Drawn from management commentary in the Q1 2026 10-Q:
CMG grew total revenue 7.4% year-over-year to $3.09B in Q1 2026 (vs. $2.88B in Q1 2025), suggesting continued restaurant-level growth through new unit openings and/or comparable sales increases, even as profitability came under pressure.
Operating margin contracted sharply from 16.7% in Q1 2025 to 12.9% in Q1 2026, a decline of approximately 381 basis points, indicating that cost pressures — likely in food, labor, or G&A — outpaced revenue growth during the quarter.
Net income fell to $302.8M from $386.6M a year ago, a drop of $83.8M or 21.7%, resulting in diluted EPS of $0.23 vs. $0.28 in the prior-year period, reflecting the combined impact of margin compression and higher costs.
Revenue
$3.09B
++7.41% YoY
EPS (Basic)
$0.23
-20.69% YoY
Operating Income
$397.06M
-17.15% YoY
Add CMG to your watchlist to get the AI analysis in your inbox within minutes of the 10-Q filing.