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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

Chipotle Reports on Q4 and FY 2018

02/06/2019

In a press release dated February 6th Chipotle Mexican Grill Inc. (CMG) announced results for the 4th Quarter and Fiscal 2018 ending December 31st 2018.

The following table summarizes the results for the period compared with the values for the corresponding quarter of the previous fiscal year (Values expressed as $ x 1,000 except EPS)

4th Quarter Ending December 31st.

2018

2017

Difference (%)

Sales:

$1,225,061

$1,110,100

+10.4

Gross profit:

$486,016

$424,758

+14.4

Operating income:

$39,612

$60,029

-34.0

Net Income

$32,019

$43,793

-26.9

Diluted earnings per share:

$1.15

$1.55

-25.8

Gross Margin (%)

39.6

38.2

+3.7

Operating Margin (%)

3.2

5.4

-40.7

Profit Margin (%)

2.6

3.9

-33.3

Long-term Debt:

nil

nil

-

12 Months Trailing:

     

Return on Assets (%)

10.4

   

Return on Equity (%)

13.3

   

Operating Margin (%)

7.5

   

Profit Margin (%)

4.0

   

Total Assets

$2,265,518

$2,045,692

+10.8

Market Capitalization

$14,600,000

   

52-Week Range in Share Price: $247.52 to $543.90

Market Close February 6th pre-release $525.85

Forward P/E: 43.9

During FY 2018 CMG opened 137 new stores and either closed or relocated 54 units.

Digital sales introduced by Niccol represented 10 percent of revenue markedly higher than FY 2017.

For FY 2018 CMG earned $176.5 million on sales of $4.86 billionwith an EPS of $6.31. The corresponding values for FY 2017 were earnings of $176.3 million on sales of $4.48 billion with and EPS of $6.17.

In commenting on results Brian Niccol, CEO stated "I'm very pleased to report strong fourth quarter results with 6.1% comparable restaurant sales growth that included 2% transaction growth. For the full year, Chipotle's average unit volumes exceeded $2 million with digital sales surpassing half a billion dollars," He added "the growth acceleration this quarter gives us confidence that our strategy is working. When we connect with guests through great operations, relevant marketing focused on Chipotle's taste and ingredients, and convenient access, they respond enthusiastically ."


 
Copyright 2019 Simon M. Shane