What insights does CMG's 2024 earnings reveal?

**Chipotle Mexican Grill's (CMG) 2024 earnings demonstrate robust growth and operational efficiency**, with several key insights emerging from the company's financial results:

1. **Revenue Growth**: CMG reported a 14.6% increase in full-year revenue, reaching $11.3 billion in 2024. This growth was driven by new restaurant openings and a 7.4% rise in comparable sales.
2. **Earnings Per Share (EPS) Improvement**: The diluted EPS for the year increased by 24.7%, reaching $1.12. This growth reflects strong operational performance and successful expansion strategies.
3. **New Restaurant Openings**: CMG opened a record 304 new restaurants in 2024, including 257 Chipotlanes. This aggressive expansion strategy has contributed to the company's growth.
4. **Digital Sales Expansion**: Digital sales accounted for 35% of total sales, highlighting CMG's strong digital presence and customer engagement. This is a positive indicator of the company's adaptability to changing consumer preferences.
5. **Restaurant-Level Margin Improvement**: The restaurant-level margin improved to 26.7% for the fiscal year, marking a 50 basis point increase year-over-year. This suggests effective cost management despite increased costs due to inflation and ingredient usage.
6. **Comparable Sales Growth**: Comparable restaurant sales grew by 7.4% for the year, with over 5% transaction growth. This indicates a strong brand performance and customer loyalty.
7. **Financial Flexibility**: CMG ended the year with $2.3 billion in cash and investments, with no debt. This financial strength allows the company to continue its growth trajectory and return value to shareholders through share repurchases.

Overall, CMG's 2024 earnings reflect a successful year of growth, driven by operational efficiency, strategic expansion, and effective cost management.