Chipotle Mexican Grill, Inc. (NYSE:CMG) shares climbed after the fast-serve restaurant reported first-quarter results following Wednesday’s closing bell.

Here's a look at the details inside the report. 

Chipotle Q1 Details       

Chipotle Mexican Grill reported quarterly earnings of 24 cents per share, in line with analyst expectations.

Quarterly revenue of $3.09 billion beat the Street estimate of $3.07 billion, according to Benzinga Pro data. 

Chipotle reported the following first-quarter highlights, year over year:

  • Opened 49 company-owned restaurants, with 42 locations, including a Chipotlane.
  • Total revenue increased 7.4% to $3.1 billion
  • Comparable restaurant sales increased 0.5%
  • Operating margin was 12.9%, a decrease from 16.7%
  • Adjusted restaurant-level operating margin was 23.7%, a decrease from 26.2%
  • Diluted earnings per share was 23 cents, a 17.9% decrease from 28 cents
  • Adjusted diluted earnings per share was 24 cents, a 17.2% decrease from 29 cents

“Our first quarter exceeded expectations as we advanced our Recipe for Growth strategy, delivering tangible progress across operations, digital, menu innovation, people and development,” said Scott Boatwright, CEO.

“We are excited to welcome a new chief brand officer and a new chief digital officer to further strengthen our value proposition, sharpen our brand messaging, and accelerate innovation — positioning Chipotle for sustained, long-term growth as we advance on our path to becoming a global iconic brand,” Boatwright added.

CMG Stock Price: According to data from Benzinga Pro, Chipotle stock was up 6.52% to $35 in Wednesday's extended trading.  

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