Chipotle Mexican Grill, Inc. (NYSE: CMG) today reported financial results for its fourth quarter ended December 31, 2020.
The company reported that during the last fiscal quarter, total revenue increased 11.6% to $1.6 billion. Comparable restaurant sales increased 5.7%
Digital sales grew 177.2% and accounted for 49.0% of sales. Restaurant level operating margin was 19.5%, an increase of 30 bps
Diluted earnings per share was $6.69, which included an income tax benefit of $3.77, partially offset by a $0.56 after-tax impact from expenses related to legal, corporate restructuring, and certain other costs, a 162.4% increase from $2.55. Adjusted diluted earnings per share excluding these charges and the income tax benefit were $3.48, a 21.7% increase from $2.86.
Also during the quarter, the company opened 61 new restaurants including two relocations, and closed one.
CEO Brian Niccfol said, "We are pleased to report a strong ending to what has been a challenging year. Despite the difficult backdrop, our ability to pivot and adapt to the rapidly changing needs of our guests is a testament to the durability of our business model and the strength of our team members,
"Expanding access and convenience through our digital ecosystem has kept the Chipotle brand relevant and with world class talent, an inclusive culture, strong business fundamentals and deep financial strength, we are well prepared to emerge even stronger post-COVID."
CMG shares lost ground $32.96, or 2.2%, to $1,490.09
