Chipotle Mexican Grill, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Financial Guidance for Year 2014
January 31, 2014 at 02:32 am IST
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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.
Chipotle Mexican Grill Inc. specializes in operating casual fast food businesses.
At the end of 2023, the group had 3,437 restaurants located mainly in the United States (3,371).
Chipotle Mexican Grill, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Financial Guidance for Year 2014