Chipotle Mexican Grill, Inc. (CMG) CEO Brian Niccol on Q4 2020 Results - Earnings Call Transcript

Feb. 02, 2021 9:07 PM ETChipotle Mexican Grill, Inc. (CMG)
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Chipotle Mexican Grill, Inc. (NYSE:CMG) Q4 2020 Earnings Conference Call February 2, 2021 4:30 PM ET

Company Participants

Ashish Kohli - Head of Investor Relations

Brian Niccol - Chairman & Chief Executive Officer

Jack Hartung - Chief Financial Officer

Conference Call Participants

Nicole Miller - Piper Sandler

David Palmer - Evercore ISI

Chris Carril - RBC Capital Markets

David Tarantino - Baird

John Glass - Morgan Stanley

Jared Garber - Goldman Sachs

Andrew Charles - Cowen

John Ivankoe - JPMorgan

Chris O'Cull - Stifel

Brian Vaccaro - Raymond James


Good day and welcome to the Chipotle Mexican Grill Fourth Quarter and Full Year 2020 Results. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. Please note this event is being recorded.

I would now like to turn the conference over to Ashish Kohli, Head of Investor Relations. Please, go ahead.

Ashish Kohli

Hello, everyone, and welcome to our fourth quarter and fiscal year-end 2020 earnings call. By now you should have access to our earnings press release. If not, it may be found on our Investor Relations website at

I'll begin by reminding you that certain statements and projections made in this presentation about our future business and financial results constitute forward-looking statements. These statements are based on management's current business and market expectations and our actual results could differ materially from those projected in the forward-looking statements. Please see the risk factors contained in our Annual Report on Form 10-K and in our Form 10-Qs for a discussion of risks that may cause our actual results to vary from these forward-looking statements.

Our discussion today will include non-GAAP financial measures. A reconciliation to GAAP measures can be found via the link included on the Presentation page within

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