Filing Flows › Chipotle Mexican Grill (CMG) › Q2 2026 › vs Q1 2026
Chipotle Mexican Grill (CMG) Q2 2026 vs Q1 2026 (quarter over quarter)
Chipotle Mexican Grill's revenue rose $260M (+8%) from $3.1B in Q1 2026 to $3.3B in Q2 2026. The biggest changes: Food and beverage revenue +$260M (+8%); Delivery service revenue +$258K (+2%). Operating margin 15.7% against 12.9% (+2.8 pts).
Chipotle Mexican Grill, Q2 2026: revenue $3.3B (+9% year over year), operating margin 15.7%, net earnings $404M, operating cash flow $681M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 15.7% | 12.9% | +2.8 pts |
| Net margin | 12.1% | 9.8% | +2.2 pts |
| Free cash flow margin | 13.8% | 15.3% | -1.4 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Food and beverage revenue | $3.3B | $3.1B | $260M | +8% |
| Delivery service revenue | $15.8M | $15.5M | $258K | +2% |
| Revenue | $3.3B | $3.1B | $260M | +8% |
| Operating profit | $526M | $397M | $129M | +32% |
| Costs & expenses | $2.8B | $2.7B | $132M | +5% |
| Pre-tax earnings | $533M | $406M | $127M | +31% |
| General & admin | $190M | $204M | −$13.2M | -7% |
| Other operating costs | $2.6B | $2.5B | $145M | +6% |
| Net earnings | $404M | $303M | $101M | +33% |
| Income tax | $130M | $103M | $26.7M | +26% |
| Depreciation & amortization | $98.3M | $96.7M | $1.6M | +2% |
| Share-based compensation | $26.5M | $28.0M | −$1.5M | -5% |
| Working capital & other | $152M | $224M | −$71.5M | -32% |
| Operating cash flow | $681M | $651M | $29.3M | +4% |
| Free cash flow (OCF − capex) | $463M | $471M | −$7.6M | -2% |
| Capital expenditures | $217M | $180M | $36.9M | +20% |
Questions
How much did Chipotle Mexican Grill's revenue grow quarter over quarter in Q2 2026?
Chipotle Mexican Grill's revenue rose $260M (+8%) from $3.1B in Q1 2026 to $3.3B in Q2 2026.
What drove Chipotle Mexican Grill's revenue change in Q2 2026?
Food and beverage revenue +$260M (+8%); Delivery service revenue +$258K (+2%).