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Chipotle Mexican Grill (CMG) Q3 FY2021 earnings: revenue $2.0 billion, up 21.9% on the year

Chipotle Mexican Grill Inc. (CMG) reported revenue of $2.0 billion for Q3 FY2021, the quarter ended 30 September 2021, up 21.9% on the same quarter a year earlier. Net income was $204 million, up 154.8% on the year, and diluted earnings per share $0.14. The figures are the company's own, from the 10-Q it filed with the SEC on 27 October 2021.

Revenue$2.0 billionup 21.9%
Net income$204 millionup 154.8%
Diluted EPS$0.14
QuarterQ3 FY2021ended 30 September 2021

The quarter, against the one before and a year earlier

LineQ3 FY2021Quarter beforeA year earlierChange on the year
Revenue1,952n/an/an/a
Operating income240n/an/an/a
Operating margin12.3%n/an/a
Pre-tax income240n/an/an/a
Income tax35.1n/an/an/a
Effective tax rate14.7%n/an/a
Net income204n/an/an/a
Net margin10.5%n/an/a
Diluted EPS$0.14n/an/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ3 FY2021Quarter beforeA year earlierChange on the year
Operating cash flow281n/an/an/a
Capital expenditure108n/an/an/a
Free cash flow172n/an/an/a
Free cash flow margin8.8%n/an/a
Cash from investing-125n/an/an/a
Cash from financing-102n/an/an/a
Depreciation and amortisation63.2n/an/an/a
Share-based compensation36.1n/an/an/a
Buybacks97.6n/an/an/a
Diluted shares, weighted1,424mn/an/an/a
Shares outstanding at period end1,407mn/an/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ3 FY2021Quarter beforeA year earlierChange on the year
Shareholders' equity2,311n/an/an/a
Debt0.0n/an/an/a
Operating lease liabilities3,275n/an/an/a
Other liabilities1,042n/an/an/a
Total liabilities and equity6,628n/an/an/a
Fixed assets1,719n/an/an/a
Goodwill21.9n/an/an/a
Investments490n/an/an/a
Trading assets18.7n/an/an/a
Cash and equivalents721n/an/an/a
Receivables76.1n/an/an/a
Inventory28.4n/an/an/a
Other assets3,552n/an/an/a
Total assets6,628n/an/an/a

Questions

What was Chipotle Mexican Grill's revenue in Q3 FY2021?

Chipotle Mexican Grill (CMG) reported revenue of $2.0 billion for Q3 FY2021, the quarter ended 30 September 2021, up 21.9% on the same quarter a year earlier.

How much did Chipotle Mexican Grill earn in Q3 FY2021?

Net income for Q3 FY2021 was $204 million, up 154.8% on the year, and diluted earnings per share $0.14.

When did Chipotle Mexican Grill report Q3 FY2021 results?

Chipotle Mexican Grill filed its 10-Q for the quarter ended 30 September 2021 with the SEC on 27 October 2021.

Quarterly results, the last 20 quarters

Q3 FY2021Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue1,9521,9612,0212,2132,2202,1812,3692,5152,4722,5162,7022,9732,7942,8452,8753,0633,0032,9843,0883,349
Operating income240158190338336296368432395363441586473416479559477420397526
Operating margin12%8%9%15%15%14%16%17%16%14%16%20%17%15%17%18%16%14%13%16%
Pre-tax income240168190348340303377448413382461608503439502577497434406533
Tax rate15%20%17%25%24%26%23%24%24%26%22%25%23%24%23%24%23%24%25%24%
Net income204133158260257224292342313282359456387332387436382331303404
Net margin10%7%8%12%12%10%12%14%13%11%13%15%14%12%13%14%13%11%10%12%
Diluted EPS$0.14$0.09$0.11$0.18$0.18$0.16$0.21$0.25$0.23$0.20$0.26$0.33$0.28$0.24$0.28$0.32$0.29$0.25$0.23$0.32
Operating cash flow281438283287352402455583480265569563446527557561570426651681
Capital expenditure10812296.2100139144120137131172133140148173145161163197180217
Free cash flow17231718718621325833544534993.5437422299354412401406228471463
Buybacks97.616626325910820012795.021615527.0145490339554443687742701654
Shares outstanding1,407m1,402mn/a1,388m1,386m1,381m1,379m1,379m1,372m1,371m1,373m1,369m1,363m1,355m1,347m1,341m1,322m1,302m1,283m1,265m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2021, filed 27 October 2021: the filing.