Chipotle Mexican Grill reported strong Q2 2024 results with total revenue increasing 18.2% to $3.0 billion, driven by an 11.1% rise in comparable restaurant sales. The growth was attributed to an 8.7% increase in transactions and a 2.4% increase in average check. Operating margin expanded to 19.7% from 17.2% year-over-year.The company opened 52 new company-operated restaurants during the quarter, with 46 locations featuring Chipotlanes. Digital sales accounted for 35.3% of total food and beverage revenue. Restaurant level operating margin improved to 28.9% from 27.5% in Q2 2023, primarily due to sales leverage despite wage and ingredient inflation.The Board of Directors authorized an additional $400 million in share repurchases, bringing total available authorization to $647.7 million. For 2024, management expects mid to high-single digit comparable restaurant sales growth and plans to open 285-315 new restaurants, with over 80% including Chipotlanes.

Chipotle Mexican Grill reported strong Q2 2024 results with total revenue increasing 18.2% to $3.0 billion, driven by an 11.1% rise in comparable restaurant sales. The growth was attributed to an 8.7% increase in transactions and a 2.4% increase in average check. Operating margin expanded to 19.7% from 17.2% year-over-year.The company opened 52 new company-operated restaurants during the quarter, with 46 locations featuring Chipotlanes. Digital sales accounted for 35.3% of total food and beverage revenue. Restaurant level operating margin improved to 28.9% from 27.5% in Q2 2023, primarily due to sales leverage despite wage and ingredient inflation.The Board of Directors authorized an additional $400 million in share repurchases, bringing total available authorization to $647.7 million. For 2024, management expects mid to high-single digit comparable restaurant sales growth and plans to open 285-315 new restaurants, with over 80% including Chipotlanes.