Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Chipotle Mexican Grill Inc., consolidated income statement (quarterly data)

US$ in thousands

3 months ended:	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Food and beverage revenue	3,332,792)	3,072,730)	2,969,211)	2,989,255)	3,047,754)	2,859,831)	2,829,990)	2,778,034)	2,954,913)	2,684,447)	2,499,567)	2,456,039)	2,497,509)	2,351,009)	2,163,907)	2,202,336)	2,192,802)	1,998,956)	1,939,405)	1,932,409)	1,869,365)	1,715,990)
Delivery service revenue	15,770)	15,512)	14,300)	14,189)	15,639)	15,422)	15,322)	15,542)	18,204)	17,401)	16,753)	15,909)	17,292)	17,571)	16,692)	17,839)	20,537)	21,583)	21,228)	19,906)	23,173)	25,585)
Revenue	3,348,562)	3,088,242)	2,983,511)	3,003,444)	3,063,393)	2,875,253)	2,845,312)	2,793,576)	2,973,117)	2,701,848)	2,516,320)	2,471,948)	2,514,801)	2,368,580)	2,180,599)	2,220,175)	2,213,339)	2,020,539)	1,960,633)	1,952,315)	1,892,538)	1,741,575)
Food, beverage and packaging	(993,573)	(913,346)	(900,155)	(902,445)	(885,989)	(838,403)	(866,252)	(855,515)	(873,673)	(779,076)	(747,155)	(734,186)	(738,664)	(692,559)	(638,851)	(662,540)	(673,928)	(626,926)	(620,150)	(591,332)	(574,478)	(522,671)
Labor	(836,450)	(805,411)	(760,524)	(756,669)	(756,261)	(718,226)	(716,865)	(696,847)	(716,627)	(659,450)	(629,228)	(616,282)	(611,678)	(583,794)	(558,914)	(557,178)	(549,926)	(531,940)	(516,829)	(502,757)	(464,506)	(433,669)
Occupancy	(174,210)	(169,881)	(162,493)	(158,314)	(154,250)	(149,841)	(146,442)	(142,570)	(138,663)	(135,699)	(131,167)	(126,269)	(123,897)	(121,931)	(118,648)	(115,826)	(113,919)	(112,032)	(107,184)	(104,223)	(103,430)	(101,769)
Other operating costs	(499,764)	(480,643)	(461,567)	(450,433)	(428,663)	(415,161)	(411,492)	(386,463)	(384,754)	(385,773)	(370,466)	(345,368)	(349,707)	(363,206)	(341,644)	(322,085)	(317,481)	(330,695)	(320,452)	(294,650)	(287,242)	(294,710)
Restaurant operating costs, exclusive of depreciation and amortization	(2,503,997)	(2,369,281)	(2,284,739)	(2,267,861)	(2,225,163)	(2,121,631)	(2,141,051)	(2,081,395)	(2,113,717)	(1,959,998)	(1,878,016)	(1,822,105)	(1,823,946)	(1,761,490)	(1,658,057)	(1,657,629)	(1,655,254)	(1,601,593)	(1,564,615)	(1,492,962)	(1,429,656)	(1,352,819)
Gross profit	844,565)	718,961)	698,772)	735,583)	838,230)	753,622)	704,261)	712,181)	859,400)	741,850)	638,304)	649,843)	690,855)	607,090)	522,542)	562,546)	558,085)	418,946)	396,018)	459,353)	462,882)	388,756)
General and administrative expenses	(190,471)	(203,720)	(160,341)	(146,742)	(172,151)	(172,783)	(191,216)	(126,614)	(175,028)	(204,625)	(169,247)	(159,501)	(156,496)	(148,340)	(135,073)	(140,896)	(140,820)	(147,402)	(159,777)	(145,930)	(146,044)	(155,103)
Depreciation and amortization	(98,327)	(96,718)	(92,702)	(90,524)	(90,945)	(87,211)	(83,876)	(84,349)	(83,562)	(83,243)	(85,492)	(78,546)	(78,771)	(76,585)	(74,012)	(71,416)	(69,733)	(71,665)	(66,262)	(63,191)	(62,082)	(63,122)
Pre-opening costs	(16,364)	(11,641)	(16,946)	(13,741)	(10,610)	(8,210)	(12,905)	(12,786)	(8,995)	(7,211)	(13,590)	(9,605)	(7,538)	(6,198)	(11,341)	(7,618)	(5,253)	(5,348)	(6,984)	(5,894)	(4,965)	(3,421)
Impairment, closure costs, and asset disposals	(13,808)	(9,819)	(8,464)	(7,404)	(5,467)	(6,168)	(532)	(15,176)	(5,762)	(5,479)	(6,528)	(7,241)	(16,240)	(8,361)	(5,785)	(6,363)	(4,681)	(4,310)	(4,699)	(4,658)	(4,266)	(5,668)
Income from operations	525,595)	397,063)	420,319)	477,172)	559,057)	479,250)	415,732)	473,256)	586,053)	441,292)	363,447)	394,950)	431,810)	367,606)	296,331)	336,253)	337,598)	190,221)	158,296)	239,680)	245,525)	161,442)
Interest and other income (expense), net	7,677)	8,742)	13,324)	19,789)	18,355)	22,253)	23,365)	29,307)	21,861)	19,364)	18,906)	18,392)	16,446)	8,949)	7,057)	3,712)	10,572)	(213)	9,263)	(126)	851)	(2,168)
Income before income taxes	533,272)	405,805)	433,643)	496,961)	577,412)	501,503)	439,097)	502,563)	607,914)	460,656)	382,353)	413,342)	448,256)	376,555)	303,388)	339,965)	348,170)	190,008)	167,559)	239,554)	246,376)	159,274)
Provision for income taxes	(129,725)	(102,981)	(102,711)	(114,858)	(141,285)	(114,904)	(107,333)	(115,175)	(152,243)	(101,369)	(100,267)	(100,125)	(106,466)	(84,911)	(79,661)	(82,827)	(88,228)	(31,714)	(34,084)	(35,120)	(58,402)	(32,173)
Net income	403,547)	302,824)	330,932)	382,103)	436,127)	386,599)	331,764)	387,388)	455,671)	359,287)	282,086)	313,217)	341,790)	291,644)	223,727)	257,138)	259,942)	158,294)	133,475)	204,434)	187,974)	127,101)

Revenue demonstrates a consistent upward trajectory over the analyzed period, growing from 1.74 billion USD in March 2021 to 3.35 billion USD by June 2026. This growth is primarily driven by food and beverage revenue, while delivery service revenue has experienced a gradual decline, shrinking from approximately 25.6 million USD to 15.8 million USD over the same timeframe.

Operating Cost Structure: Food, beverage, and packaging costs have scaled proportionally with revenue, rising from 522.7 million USD in early 2021 to 993.6 million USD by mid-2026. Labor expenses show a similar linear growth pattern, increasing from 433.7 million USD to 836.5 million USD. Occupancy costs have also risen steadily, reflecting an expansion of the physical footprint, growing from 101.8 million USD to 174.2 million USD.
Profitability and Margin Analysis: Gross profit has expanded significantly, moving from 388.8 million USD in March 2021 to 844.6 million USD in June 2026. Income from operations exhibits a general upward trend despite quarterly volatility, peaking at 586.1 million USD in June 2024. The company has maintained operational efficiency as restaurant operating costs have remained relatively stable as a percentage of total revenue.
Expense Management and Other Income: General and administrative expenses have remained relatively contained relative to the scale of revenue growth, fluctuating between 126.6 million USD and 204.6 million USD. A notable shift is observed in interest and other income, which transitioned from negligible or negative values in 2021 to a consistent positive contribution, peaking at 29.3 million USD in September 2024.
Bottom Line Performance: Net income shows substantial long-term growth, increasing from 127.1 million USD in March 2021 to 403.5 million USD by June 2026. While quarterly fluctuations exist—particularly in 2024 and 2025—the overall trend indicates a strengthened capacity for earnings generation and an improved net profit profile.

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Chipotle Mexican Grill Inc. (NYSE:CMG)

Income StatementQuarterly Data

Income Statement
Quarterly Data