Chipotle's (CMG) total revenue for the fiscal year 2024 reached $11.31 billion, marking a 14.6% increase compared to $9.87 billion in 2023. This growth was driven by a combination of factors, including a 7.4% increase in comparable restaurant sales, which itself was supported by a 5.3% rise in transactions and a 2.1% increase in average check size. Additionally, new restaurant openings contributed significantly to the revenue growth.

Net income for 2024 was $1.53 billion, reflecting a 24.8% increase from $1.23 billion in 2023. This improvement in profitability was supported by higher operating income and a favorable increase in interest and other income, which rose to $93.9 million from $62.7 million in the prior year.

Operating income for 2024 was $1.92 billion, up from $1.56 billion in 2023, representing a 23% year-over-year increase. This was achieved despite rising costs in food, beverage, and packaging, which increased to $3.37 billion from $2.91 billion, and labor costs, which rose to $2.79 billion from $2.44 billion. The company managed to offset these cost pressures through higher revenue and operational efficiencies.

Chipotle's U.S. segment revenue accounted for the majority of its total revenue, reaching $11.11 billion in 2024, up from $9.72 billion in 2023. This segment's income from operations also grew significantly, reaching $2.63 billion compared to $2.22 billion in the prior year, reflecting strong performance in its core market.

The company reported a 7.4% increase in comparable restaurant sales for 2024, driven by a 5.3% increase in transactions and a 2.1% increase in average check size. However, the impact of menu price increases was more modest at 2.9%, compared to 5.2% in 2023, indicating a shift in the drivers of sales growth.

Chipotle's cash flow from operating activities reached $2.11 billion in 2024, up from $1.78 billion in 2023, reflecting strong operational performance. However, the company continued to invest heavily in growth, with $593.6 million spent on leasehold improvements, property, and equipment, and $986.7 million on investments. These expenditures resulted in a net cash outflow of $837.5 million from investing activities.

The company repurchased $1.00 billion worth of common stock in 2024, a significant increase from $592.3 million in 2023. This reflects Chipotle's commitment to returning value to shareholders, even as it continues to invest in growth initiatives.

Chipotle's earnings per share (EPS) for 2024 were $1.12 (basic) and $1.11 (diluted), compared to $0.89 for both basic and diluted EPS in 2023. This represents a significant improvement in shareholder returns, driven by higher net income and share repurchases, which reduced the weighted-average shares outstanding.

The company's restaurant operating costs as a percentage of revenue remained a key focus area. Food, beverage, and packaging costs increased to $3.37 billion, while labor costs rose to $2.79 billion. Despite these increases, Chipotle maintained strong profitability through effective cost management and revenue growth.