Chipotle Mexican Grill Files 10-Q for Q3 2024

TL;DR

CMG's Q3 2024 10-Q is in - check financials for latest performance.

AI Summary

Chipotle Mexican Grill Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter of 2024, detailing financial performance and operational updates for the company. Specific financial figures and operational metrics for the quarter and year-to-date periods are included.

Why It Matters

This filing provides investors and analysts with the official financial results and operational details for Chipotle during the third quarter of 2024, crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not inherently present new risks.

Key Numbers

• 2024-09-30 — Period End Date (Indicates the end of the reporting period for this 10-Q filing.)
• 2024-01-01 — Year-to-Date Start Date (Marks the beginning of the fiscal year for the reported financial data.)
• 2023-09-30 — Prior Year Q3 End Date (Provides a comparative point for the third quarter of the previous year.)

Key Players & Entities

• CHIPOTLE MEXICAN GRILL INC (company) — Filer
• 0001058090 (company) — Central Index Key
• 20240930 (date) — Period of Report
• 20241030 (date) — Filed as of Date
• 949-524-4000 (dollar_amount) — Business Phone

FAQ

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 per share CMG New York Stock Exchange

Filing Documents

• cmg-20240930.htm (10-Q) — 1074KB
• a101formof2024retentionrsu.htm (EX-10.1) — 50KB
• a102formof2024retentionrsu.htm (EX-10.2) — 54KB
• a103formof2024retentionrsu.htm (EX-10.3) — 49KB
• a104formofrsuagreement-inc.htm (EX-10.4) — 50KB
• a105formof2024rsuagreement.htm (EX-10.5) — 58KB
• cmg-20240930xex311.htm (EX-31.1) — 9KB
• cmg-20240930xex312.htm (EX-31.2) — 9KB
• cmg-20240930xex321.htm (EX-32.1) — 6KB
• 0001058090-24-000050.txt ( ) — 5848KB
• cmg-20240930.xsd (EX-101.SCH) — 39KB
• cmg-20240930_cal.xml (EX-101.CAL) — 59KB
• cmg-20240930_def.xml (EX-101.DEF) — 187KB
• cmg-20240930_lab.xml (EX-101.LAB) — 533KB
• cmg-20240930_pre.xml (EX-101.PRE) — 367KB
• cmg-20240930_htm.xml (XML) — 674KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Income and Comprehensive Income 2 Condensed Consolidated Statements of Shareholders' Equity 3 Condensed Consolidated Statements of Cash Flows 4 Notes to Condensed Consolidated Financial Statements 5 Note 1 - Basis of Presentation and Update to Accounting Policies 5 Note 2 - Recently Issued Accounting Standards 5 Note 3 - Revenue Recognition 6 Note 4 - Fair Value Measurements 7 Note 5 - Equity Investments 9 Note 6 - Shareholders' Equity 9 Note 7 - Stock-Based Compensation 10 Note 8 - Income Taxes 11 Note 9 - Leases 11 Note 10 - Earnings Per Share 12 Note 11 - Commitments and Contingencies 12 Note 12 - Debt 13 Note 13 - Related Party Transactions 13 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 14 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 21 Item 4

Controls and Procedures

Controls and Procedures 21 PART II Item 1

Legal Proceedings

Legal Proceedings 21 Item 1A

Risk Factors

Risk Factors 22 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 22 Item 3 Defaults upon Senior Securities 22 Item 4 Mine Safety Disclosures 22 Item 5 Other Information 22 Item 6 Exhibits 23

Signatures

Signatures 24 Table of Contents PART I

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS CHIPOTLE MEXICAN GRILL, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share data) September 30, 2024 December 31, 2023 (unaudited) Assets Current assets: Cash and cash equivalents $ 698,547 $ 560,609 Accounts receivable, net 93,202 115,535 Inventory 49,848 39,309 Prepaid expenses and other current assets 87,896 117,462 Income tax receivable 82,087 52,960 Investments 668,676 734,838 Total current assets 1,680,256 1,620,713 Leasehold improvements, property and equipment, net 2,320,395 2,170,038 Long-term investments 892,487 564,488 Restricted cash 27,969 25,554 Operating lease assets 3,954,689 3,578,548 Other assets 113,935 63,082 Goodwill 21,939 21,939 Total assets $ 9,011,670 $ 8,044,362 Liabilities and shareholders' equity Current liabilities: Accounts payable $ 221,301 $ 197,646 Accrued payroll and benefits 184,367 227,537 Accrued liabilities 181,354 147,688 Unearned revenue 180,288 209,680 Current operating lease liabilities 270,574 248,074 Total current liabilities 1,037,884 1,030,625 Commitments and contingencies (Note 11) Long-term operating lease liabilities 4,212,868 3,803,551 Deferred income tax liabilities 79,519 89,109 Other liabilities 67,501 58,870 Total liabilities 5,397,772 4,982,155 Shareholders' equity: Preferred stock, $ 0.01 par value, 600,000 shares authorized, no shares issued as of September 30, 2024 and December 31, 2023, respectively - - Common stock, $ 0.01 par value, 11,500,000 shares authorized, 1,363,639 and 1,874,139 shares issued as of September 30, 2024 and December 31, 2023, respectively 13,635 18,741 Additional paid-in capital 2,030,178 1,937,794 Treasury stock, at cost, 0 and 502,843 common shares as of September 30, 2024 and December 31, 2023, respectively - ( 4,944,656 ) Accumulated other comprehensive loss ( 7,440 ) ( 6,657 ) Retained earnings 1,577,525 6,056,985 Total shareholders' equity 3,613,898 3,062,207 Total liabilities and

View Full Filing

View this 10-Q filing on SEC EDGAR