Chipotle Mexican Grill, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company's revenue was $844.1 million compared with $699.2 million a year ago. The growth in revenue was the result of new restaurants not in the comparable base and a 9.3% increase in comparable restaurant sales. Income from operations was $129.1 million compared with $102.2 million a year ago. Income before income taxes was $129.5 million compared with $102.7 million a year ago. Net income was $79.6 million or $2.53 per diluted share compared with $61.4 million or $1.95 per diluted share a year ago.

For the year, the company's revenue was $3,214.6 million compared with $2,731.2 million a year ago. The growth in revenue was the result of new restaurants not in the comparable base and a 5.6% increase in comparable restaurant sales. Income from operations was $532.7 million compared with $455.9 million a year ago. Income before income taxes was $534.5 million compared with $457.7 million a year ago. Net income was $327.4 million or $10.47 per diluted share compared with $278.0 million or $8.75 per diluted share a year ago. Net cash provided by operating activities was $528.8 million compared with $419.96 million a year ago. Purchases of leasehold improvements, property and equipment were $199.93 million compared with $197.0 million a year ago.

For 2014, the company expects an estimated effective tax rate of 39.2%, which excludes federal work opportunity and R&D credits, which have not been renewed for 2014. In 2014, the company anticipates CapEx will be around $225 million, the majority of which relates to new restaurant construction.