Chipotle Mexican Grill, Inc. · NYSE:CMG
Chipotle Mexican Grill — Q4 2024 Earnings Presentation
7 slides from Chipotle Mexican Grill's earnings presentation, Feb 4, 2025
Slide 1: Reconciliation of Non-GAAP Financial Measures
CHIPOTLE MEXICAN GRILL, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES The following tables provide a reconciliation of non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP. Adjusted net income is net income excluding exp
Slide 2: Adjusted Net Income and Adjusted Diluted Earnings per Share
CHIPOTLE MEXICAN GRILL, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Adjusted Net Income and Adjusted Diluted Earnings per Share (in thousands, except per share amounts) (unaudited) Three Months Ended Year Ended December 31, December 31, 2024 2023 2024 2023 Net income $ 331,764 $ 282,086 $ 1,5
Slide 3: Footnotes: tax effect of non-GAAP adjustments and stock split
(10) Adjustments relate to the tax effect of non-GAAP adjustments, which were determined based on the nature of the underlying non-GAAP adjustments and their relevant jurisdictional tax rates. Prior period results have been retroactively adjusted for the 50-for-1 stock split in June 2024.
Slide 4: Adjusted General and Administrative Expenses
CHIPOTLE MEXICAN GRILL, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Adjusted General and Administrative Expenses (in thousands) (unaudited) Three Months Ended Year Ended December 31, December 31, 2024 2023 2024 2023 General and administrative expenses $ 191,216 $ 169,247 $ 697,483 $ 633,584 N
Slide 5: Adjusted Depreciation and Amortization
CHIPOTLE MEXICAN GRILL, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Adjusted Depreciation and Amortization (in thousands) (unaudited) Three Months Ended Year Ended December 31, December 31, 2024 2023 2024 2023 Depreciation and amortization $ 83,876 $ 85,492 $ 335,030 $ 319,394 Non-GAAP adjust
Slide 6: Adjusted Effective Income Tax Rate
CHIPOTLE MEXICAN GRILL, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Adjusted Effective Income Tax Rate (unaudited) Three Months Ended Year Ended December 31, December 31, 2024 2023 2024 2023 Effective income tax rate 24.4 % 26.2 % 23.7 % 24.2 % Tax impact of non-GAAP adjustments(1) 0.2 - 0.3
Slide 7: Restaurant Level Operating Margin
CHIPOTLE MEXICAN GRILL, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Restaurant Level Operating Margin (in thousands) (unaudited) Three months ended December 31, Percent of Percent of total total 2024 revenue 2023 revenue Income from operations $ 415,732 14.6 % $ 363,447 14.4 % Non-GAAP Adjust
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