Every material Form 8-K Chipotle Mexican Grill has filed with the SEC since December 20, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Chipotle Mexican Grill reported third quarter 2026 total revenue of $3.3 billion, representing a 9.6% year-over-year increase driven by new restaurant openings and a 2.1% rise in comparable restaurant sales. However, net income declined to $339.9 million, or $0.27 per diluted share, down from $382.1 million, or $0.29 per diluted share, in the prior year period due to higher operating and labor costs.
Total revenue increased 9.6% year-over-year to $3.3 billion for the third quarter ended September 30, 2026.
Comparable restaurant sales increased 2.1%, marking the third consecutive quarter of positive transaction growth.
Diluted earnings per share decreased 6.9% to $0.27 compared to $0.29 in the third quarter of 2025.
The company opened 84 company-owned restaurants during the quarter, including 53 locations with a Chipotlane.
Chipotle Mexican Grill increased its board to 11 directors and elected Sabir Sami, a former KFC Division CEO at Yum! Brands, as an independent director effective September 14, 2026. Sami will not serve on any board committee, and his pay will follow the standard non-employee director program.
Board expanded from 10 to 11 directors; the company says 10 of 11 directors are independent
Sabir Sami, age 59, served as CEO of KFC Division at Yum! Brands from January 2022 to February 2025
Sami was not appointed to any board committee; compensation follows the non-employee director program
Chipotle reported second-quarter 2026 revenue of $3.3 billion, up 9.3%, with comparable restaurant sales up 2.2%, but net income fell to $403.5 million and diluted EPS was flat at $0.32. The company raised its full-year comparable sales outlook to the low single digit range and authorized $1.3 billion in additional share repurchases, which may be modified, suspended or discontinued at any time.
Total revenue rose 9.3% to $3.3 billion; comparable restaurant sales rose 2.2%, driven by a 1.2% increase in average check and a 1.0% increase in transactions.
Net income was $403.5 million, or $0.32 per diluted share, versus $436.1 million, or $0.32, in the second quarter of 2025.
Full-year 2026 comparable restaurant sales growth is expected in the low single digit range, and the company expects 350 to 370 new restaurant openings.
The Board approved $1.3 billion in additional repurchase authorizations on June 11, 2026; $1.7 billion remained available as of June 30, 2026.
Chipotle reported first-quarter 2026 results for the period ended March 31, 2026. Total revenue rose 7.4% to $3.1 billion and comparable restaurant sales rose 0.5%, but net income fell to $302.8 million from $386.6 million, and diluted earnings per share fell to $0.23 from $0.28. The company kept its 2026 outlook of about flat full-year comparable restaurant sales and 350 to 370 new restaurant openings.
Total revenue increased 7.4% to $3.1 billion; comparable restaurant sales rose 0.5%, driven by a 0.6% increase in transactions.
Operating margin was 12.9%, down from 16.7%; labor costs rose to 26.1% of revenue from 25.0%.
Adjusted diluted EPS was $0.24, down 17.2% from $0.29; the company repurchased $700.8 million of stock in the quarter.
For 2026, management expects full-year comparable restaurant sales to be about flat and 350 to 370 new restaurant openings.
Chipotle reported fourth-quarter 2025 revenue up 4.9% to $3.0 billion and diluted EPS of $0.25, up from $0.24, while comparable restaurant sales fell 2.5% and operating margin slipped to 14.1% from 14.6%. For 2026, management expects full-year comparable restaurant sales to be about flat and plans 350 to 370 new restaurant openings.
Q4 2025 total revenue rose 4.9% to $3.0 billion; comparable restaurant sales decreased 2.5%, with transactions down 3.2%
Full-year 2025 revenue rose 5.4% to $11.9 billion; diluted EPS was $1.14 vs. $1.11 in 2024
Operating margin was 14.1% in Q4 vs. 14.6% a year earlier; full-year operating margin was 16.2% vs. 16.9%
2026 outlook: comparable restaurant sales about flat; $1.7 billion remained under buyback authorizations as of December 31, 2025
Chipotle said two executives, Chief Legal Officer Roger Theodoredis and President and Chief Brand Officer Chris Brandt, have transitioned out of their executive roles effective January 12, 2026, and will stay on in advisory roles for a limited period. Chief Human Resources Officer Ilene Eskenazi takes on the combined chief legal and human resources role, and Stephanie Perdue is interim Chief Marketing Officer while the company searches for a permanent CMO. The company also reaffirmed its full-year 2025 guidance issued in October, which keeps its prior financial outlook unchanged.
Ilene Eskenazi appointed Chief Legal and Human Resources Officer, effective immediately, succeeding Roger Theodoredis
Stephanie Perdue, Vice President of Brand Marketing, named interim Chief Marketing Officer, succeeding Chris Brandt
Company reaffirmed full-year 2025 financial guidance issued in October 2025
Fourth quarter and fiscal year 2025 earnings call scheduled for February 3, 2026
Chipotle elected Josh Weinstein, Chief Executive Officer of Carnival Corporation & plc, to its Board effective November 25, 2025, and placed him on the Nominating and Corporate Governance Committee. The board size was expanded to ten directors to accommodate the addition, with nine of the ten described as independent.
Weinstein elected to the board effective November 25, 2025; the board was expanded to ten directors
He joins the Nominating and Corporate Governance Committee
Weinstein has been Carnival Corporation & plc CEO and a board member since 2022, and spent over 20 years at Carnival
He will receive the same non-employee director compensation described in Chipotle's 2025 proxy statement
Chipotle reported third-quarter 2025 results for the quarter ended September 30, 2025. Total revenue rose 7.5% to $3.0 billion and diluted EPS was $0.29, up from $0.28, while operating margin fell to 15.9% from 16.9%. The company now expects full-year 2025 comparable restaurant sales to decline in the low-single-digit range.
Total revenue rose 7.5% to $3.0 billion; comparable restaurant sales rose 0.3%, driven by a 1.1% increase in average check and a 0.8% decline in transactions.
Diluted EPS was $0.29 versus $0.28 a year earlier; adjusted diluted EPS was $0.29 versus $0.27.
Operating margin was 15.9%, down from 16.9%; labor costs rose to 25.2% of revenue from 24.9%.
Chipotle repurchased $686.5 million of stock in the quarter, and $652.3 million remained under authorizations as of September 30, 2025.
Chipotle appointed Matthew Bush, its Vice President and Controller, as principal accounting officer effective immediately, following his August 25, 2025 promotion. The filing describes his base salary, bonus target and equity grant, which are routine terms for a promotion of this kind.
Matthew Bush, 42, appointed principal accounting officer on September 4, 2025
Annual base salary of $340,000 and target bonus of 35% of base salary
Incremental restricted stock unit grant valued at $400,000, to be granted October 31, 2025, vesting in thirds over three years
Chipotle said Jamie McConnell resigned as Chief Accounting and Administrative Officer, effective immediately, to pursue a new professional opportunity. The filing states her resignation was not the result of any dispute or disagreement with Chipotle, including over accounting practices, financial reporting, operations or policies.
Jamie McConnell notified Chipotle of her resignation on August 25, 2025, effective immediately
Role: Chief Accounting and Administrative Officer
Stated reason: to pursue a new professional opportunity; filing says no dispute or disagreement with Chipotle
Chipotle reported second quarter 2025 results for the period ended June 30, 2025, with total revenue up 3.0% to $3.1 billion while comparable restaurant sales fell 4.0% and diluted EPS declined to $0.32 from $0.33. The company also disclosed that its Board authorized an additional $400 million in share repurchases, on top of previously announced programs, which matters to shareholders because it adds to capital returned while profit per share and margins declined.
Total revenue rose 3.0% to $3.1 billion, driven by new restaurant openings; comparable restaurant sales decreased 4.0%, with transactions down 4.9%.
Operating margin was 18.2%, down from 19.7%; restaurant level operating margin was 27.4%, down from 28.9%.
Net income was $436.1 million, or $0.32 per diluted share, versus $455.7 million, or $0.33, a year earlier.
The Board's $400 million repurchase authorization was approved June 10, 2025; $838.8 million remained available as of June 30, 2025, and the program may be modified, suspended or discontinued at any time.
Chipotle entered into a new $500 million senior unsecured revolving credit agreement on June 24, 2025, maturing June 24, 2030, and terminated its prior $500 million facility that was due to expire April 13, 2026. The company had no borrowings outstanding under the prior facility and paid no early termination penalties. The filing is a refinancing of an existing credit line of the same size and does not disclose any drawn amount under the new facility.
New $500 million revolving credit facility with a letter of credit sub-facility of up to $20 million, maturing June 24, 2030
Prior $500 million facility, due April 13, 2026, terminated with no borrowings outstanding and no early termination penalties
Borrowing spread of 1.125% to 1.875% over Term SOFR, or 0.125% to 0.875% over the Alternate Base Rate, based on total leverage ratio
Financial covenants include a maximum total leverage ratio of 3.00x and a minimum fixed charge coverage ratio of 1.50x
Chipotle named Jason Kidd, formerly Taco Bell's chief operating officer, as its chief operating officer effective May 19, 2025, overseeing its nearly 3,800 restaurants and reporting to CEO Scott Boatwright. President and Chief Strategy Officer Jack Hartung will step down as an executive officer on June 1, 2025, and remain as a senior advisor until his retirement in early March 2026. The filing reflects a senior leadership change in operations and strategy, with no financial results disclosed.
Jason Kidd, age 50, joins as COO effective May 19, 2025, with a $675,000 base salary and a $150,000 cash signing bonus
Kidd's new-hire equity awards have a combined grant date value of approximately $3,000,000
Jack Hartung's executive role ends June 1, 2025; his senior advisor base salary will be $200,000
Curt Garner adds supply chain oversight and Chris Brandt leads menu and ingredient processes
Chipotle reported first-quarter 2025 results for the quarter ended March 31, 2025. Total revenue rose 6.4% to $2.9 billion and diluted earnings per share were $0.28, up from $0.26, while comparable restaurant sales fell 0.4%. The board also authorized $400 million in share repurchases, in addition to previously announced authorizations, which matters to shareholders because it adds to the capital the company can return.
Total revenue rose 6.4% to $2.9 billion; comparable restaurant sales decreased 0.4%.
Diluted EPS was $0.28 versus $0.26; restaurant level operating margin fell to 26.2% from 27.5%.
Board authorized $400 million in repurchases; $874.7 million remained available under authorizations as of March 31, 2025.
2025 outlook: full-year comparable restaurant sales growth in the low single digit range and 315 to 345 new company-owned restaurant openings.
Chipotle reported fourth-quarter 2024 revenue of $2.8 billion, up 13.1%, with comparable restaurant sales up 5.4% and diluted EPS of $0.24 versus $0.20 a year earlier. Restaurant-level operating margin fell to 24.8% from 25.4%, and the Board authorized an additional $300 million in share repurchases, which the filing says is in addition to prior authorizations.
Q4 total revenue rose 13.1% to $2.8 billion, with comparable restaurant sales up 5.4% on 4.0% transaction growth
Q4 net income was $331.8 million, or $0.24 per diluted share, versus $0.20 a year earlier
Restaurant-level operating margin was 24.8%, down from 25.4% in the prior-year quarter
Board authorized $300 million in additional share repurchases; 2025 outlook calls for 315 to 345 new company-owned restaurant openings
Chipotle's Compensation, People and Culture Committee approved the 2025 pay package for Scott Boatwright, who was promoted from interim to permanent Chief Executive Officer. The package raises his base salary, target annual cash incentive and equity award value, which matters to shareholders as a disclosed increase in top executive compensation.
Base salary rises to $1,100,000 from $1,000,000 for his interim role.
Target annual cash incentive rises to 200% of base salary from 115%.
Beginning in 2025, annual equity awards with an aggregate grant date value of $13,000,000, subject to shareholder-approved equity plans.
Committee approved the package on December 17, 2024; promotion was previously reported on November 11, 2024.
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