Filing Flows › Chipotle Mexican Grill (CMG) › Q1 2025
Chipotle Mexican Grill (CMG) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 24, 2025
Chipotle Mexican Grill (CMG) reported revenue of $2.9B for the first quarter 2025 (Q1 2025), +6% from a year earlier and +1% from the quarter before. Operating margin was 16.7%, net earnings $387M (13.4% of revenue).
Chipotle Mexican Grill, Q1 2025: revenue $2.9B (+6% year over year), operating margin 16.7%, net earnings $387M, operating cash flow $557M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.9B | +1% | +6% |
| Operating profit | $479M | +15% | +9% |
| Net earnings | $387M | +17% | +8% |
| Operating cash flow | $557M | +6% | -2% |
| Free cash flow | $412M | +16% | -6% |
What changed
Revenue was $2.9B in Q1 2025, up 6% year over year and up 1% from the previous quarter. Food and beverage revenue was the largest line at 99% of revenue. Food and beverage revenue added $0.18B year over year (up 7%), 101% of the total change. Delivery service revenue declined 11%.
Operating profit was $0.48B, a 16.7% margin (up 0.3 points year over year). Of the extra revenue versus a year earlier, 22% reached operating profit, above the 16% margin then. Total costs grew 6% against revenue growth of 6%. Net earnings were $0.39B, up 8% year over year. The effective tax rate was 22.9%.
Operating cash flow was $0.56B (down 2% year over year), 144% of net earnings. Non-cash charges added back $0.09B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items added $0.05B. Capital expenditures of $0.14B left free cash flow of $0.41B.
Questions
What was Chipotle Mexican Grill's revenue in the first quarter 2025?
Chipotle Mexican Grill (CMG) reported revenue of $2.9B for the first quarter 2025 (Q1 2025), +6% from a year earlier and +1% from the quarter before.
Was Chipotle Mexican Grill profitable in the first quarter 2025?
Operating profit was $479M (16.7% of revenue) and net earnings $387M.