Filing Flows › Chipotle Mexican Grill (CMG) › Q2 2026
Chipotle Mexican Grill (CMG) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 31, 2026
Chipotle Mexican Grill (CMG) reported revenue of $3.3B for the second quarter 2026 (Q2 2026), +9% from a year earlier and +8% from the quarter before. Operating margin was 15.7%, net earnings $404M (12.1% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.3B | +8% | +9% |
| Operating profit | $526M | +32% | -6% |
| Net earnings | $404M | +33% | -7% |
| Operating cash flow | $681M | +4% | +21% |
| Free cash flow | $463M | -2% | +16% |
What changed
Revenue was $3.3B in Q2 2026, up 9% year over year and up 8% from the previous quarter. Food and beverage revenue was the largest line at 100% of revenue. Food and beverage revenue added $0.29B year over year (up 9%), 100% of the total change.
Operating profit was $0.53B, a 15.7% margin (down 2.6 points year over year). Operating profit fell $0.03B even though revenue rose $0.29B versus Q2 2025, so costs grew faster than sales. Total costs grew 13% against revenue growth of 9%. The fastest-growing cost line was Other operating costs (+13%). Net earnings were $0.40B, down 7% year over year. The effective tax rate was 24.3%.
Operating cash flow was $0.68B (up 21% year over year), 169% of net earnings. Non-cash charges added back $0.10B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.15B. Capital expenditures of $0.22B left free cash flow of $0.46B.
Questions
What was Chipotle Mexican Grill's revenue in the second quarter 2026?
Chipotle Mexican Grill (CMG) reported revenue of $3.3B for the second quarter 2026 (Q2 2026), +9% from a year earlier and +8% from the quarter before.
Was Chipotle Mexican Grill profitable in the second quarter 2026?
Operating profit was $526M (15.7% of revenue) and net earnings $404M.