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Sentiment · FY2026 Q2
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $2.85B | +13.1% | $0.24 | +20.0% | 14.6% | 11.7% | $354M |
| FY2025 Q1 | $2.88B | +6.4% | $0.28 | +7.7% | 16.7% | 13.4% | $412M |
| FY2025 Q2 | $3.06B | +3.0% | $0.32 | -3.0% | 18.2% | 14.2% | $401M |
| FY2025 Q3 | $3.00B | +7.5% | $0.29 | +3.6% | 15.9% | 12.7% | $406M |
| FY2025 Q4 | $2.98B | +4.9% | $0.25 | +4.2% | 14.9% | 11.1% | $228M |
| FY2026 Q1 | $3.09B | +7.4% | $0.23 | -17.9% | 12.9% | 9.8% | $471M |
| FY2026 Q2 | $3.35B | +9.3% | $0.32 | 0.0% | 15.7% | 12.1% | $463M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Chipotle posted Q1 revenue growth of 7.4% to $3.1 billion with positive transaction growth, but adjusted EPS declined 17% to $0.24 as restaurant-level margin compressed 250 basis points driven by wage inflation, higher marketing and utility costs, and lower average volumes. The doubled menu innovation cadence drove incremental demand and the rewards program relaunch accelerated member engagement, but margin pressure from deliberate pricing restraint weighed heavily on profitability. Full-year comp guidance was maintained at about flat.
Demand | Revenue Growth | Competitive Dynamics | Margin | Innovation & R&D | Geographic Expansion | Product Launch | Pricing | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 8 | 5 | 6 | 3 | 3 | 3 | 2 |
| 2025Q1 | 9 | 4 | 6 | 1 | 3 | 3 | 2 | |
| 2025Q2 | 8 | 8 | 8 | 4 | 5 | 2 | 1 | |
| 2025Q3 | 9 | 5 | 4 | 4 | 2 | 2 | 1 | 4 |
| 2025Q4 | 12 | 6 | 3 | 4 | 3 | 3 | 5 | 3 |
| 2026Q1 | 5 | 4 | 6 | 1 | 3 | 2 | 2 | 3 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 4 | 9 | 8 | 9 | 12 | 5 |
| Revenue Growth | 8 | 4 | 8 | 5 | 6 | 4 |
| Competitive Dynamics | 5 | 6 | 8 | 4 | 3 | 6 |
| Margin | 6 | 1 | 4 | 4 | 4 | 1 |
| Innovation & R&D | 3 | 3 | 5 | 2 | 3 | 3 |
| Geographic Expansion | 3 | 3 | 2 | 2 | 3 | 2 |
| Product Launch | 3 | 2 | 1 | 1 | 5 | 2 |
| Pricing | 2 | 4 | 3 | 3 |
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Sara Senatore | Bank of America | 13 (23%) |
| Lauren Silberman | Deutsche Bank | 11 (18%) |
| Danilo Gargiulo | Bernstein | 11 (27%) |
| Dave Palmer | Evercore ISI | 11 (36%) |
| Andrew Charles | TD Cowen | 9 (44%) |
| Brian Harbour | Morgan Stanley | 8 (0%) |
| Dennis Geiger | UBS | 8 (0%) |
| David Tarantino | Robert W. Baird | 7 (29%) |
| John Ivankoe | JPMorgan | 7 (0%) |
| Sharon Zackfia | William Blair | 7 (14%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Bank of America | 1 | 13 (23%) |
| Robert W. Baird | 2 | 12 (17%) |
| TD Cowen | 2 | 12 (33%) |
| Evercore ISI | 1 |
| 11 (36%) |
| Deutsche Bank | 1 | 11 (18%) |
| Bernstein | 1 | 11 (27%) |
| Morgan Stanley | 2 | 9 (0%) |
| JPMorgan | 2 | 8 (0%) |
What CMG and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“They primarily use Uber as a discount platform and DoorDash as a premium faster order time, faster delivery time platform.”
Chipotle characterizes Uber (Uber Eats) as the discount-oriented delivery platform relative to DoorDash, a read-through on consumer usage of the two aggregators.
“we did some testing on different premiums in delivery across DoorDash and Uber and people use those platforms in different ways.”
Chipotle tests delivery pricing across DoorDash and Uber, characterizing DoorDash as the premium, faster-delivery platform of the two.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
CMG Chipotle Mexican Grill | 5 | +7.4% | |
| DPZ Domino's | 5 | +3.5% | |
| DRI Darden Restaurants | 5 | +5.9% | |
| MCD McDonald's Corporation | 7 | +9.4% | |
| SBUX Starbucks | 9 | +8.8% | |
| YUM Yum! Brands | 9 | +15.2% |