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Chipotle reports revenue increase despite pork shortage

Chipotle saw a 20-percent increase in revenue for Q1.

April 22, 2015

Chipotle today reported its results for its first quarter ended March 31, which saw a 20-percent increase in revenue, according to a company press release.

“We are very proud of our start to 2015, as our average sales volumes reached a record $2.5 million per restaurant,” said Steve Ells, founder, chairman and co-CEO of Chipotle. “We attribute this success to our unique food culture and people culture, which are the driving forces to create a new fast food model.

Ells also recognized that the quarter faced a few challenges, including the suspension of one of its primary pork suppliers.

“(We) are exploring options to increase the supply of pork that meets our high standards. But we remain confident that higher quality, Responsibly Raised ingredients taste better and will continue to resonate with our customers,” he said.

Other highlights included:

Comparable restaurant sales increased 10.4 percent
Restaurant level operating margin was 27.5 percent, an increase of 160 basis points
Net income was $122.6 million, an increase of 47.6 percent
Diluted earnings per share was $3.88, an increase of 47 percent
Opened 49 new restaurants

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