Chipotle Mexican Grill, Inc. · NYSE:CMG
Chipotle Mexican Grill — Q3 2023 Earnings Presentation
5 slides from Chipotle Mexican Grill's earnings presentation, Oct 26, 2023
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 September 30, 2023 2022 Net income $ 313,217 $ 257,138 Non-GAAP adjustments: Restaurant costs
Slide 3: 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 September 30, 2023 2022 General and administrative expenses $ 159,501 $ 140,896 Non-GAAP adjustments: Restructuring expense(1) (1,334)
Slide 4: Adjusted Effective Income Tax Rate
CHIPOTLE MEXICAN GRILL, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Adjusted Effective Income Tax Rate (unaudited) Three months ended September 30, 2023 2022 Effective income tax rate 24.2 % 24.4 % Tax impact of non-GAAP adjustments(1) - (1.0) Adjusted effective income tax rate 24.2 % 23.4 %
Slide 5: Restaurant Level Operating Margin
CHIPOTLE MEXICAN GRILL, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Restaurant Level Operating Margin (in thousands) (unaudited) Three months ended September 30, Percent of Percent of 2023 total revenue 2022 total revenue Income from operations $ 394,950 16.0 % $ 336,253 15.1 % Non-GAAP Adjus
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