Summary by Moomoo AI
Chipotle Mexican Grill reported strong Q3 2024 results, with total revenue increasing 13% YoY to $2.8B. Comparable restaurant sales rose 6%, driven by 3.3% higher transactions and a 2.7% increase in average check. Digital sales accounted for 34% of total food and beverage revenue.The company opened 86 new company-operated restaurants, including 73 with Chipotlanes. Operating margin improved to 16.9% from 16% in Q3 2023. Diluted EPS increased 21.7% to $0.28, while adjusted EPS rose 17.4% to $0.27.Chipotle's Board of Directors authorized a new $900M stock repurchase program. For 2024, the company anticipates mid to high-single digit comparable restaurant sales growth and 285-315 new restaurant openings. The outlook for 2025 includes 315-345 new restaurant openings.