Key Takeaways Chipotle gets half its avocados from outside Mexico, according to CEO Scott Boatwright; meanwhile, the U.S.

While other fast casual chains struggle with closures and bankruptcies, the company reports growing revenue and margins.

Chipotle is downplaying the potential impact of U.S. tariffs on imported avocados and beef from China, Mexico and Canada.

Chiptole expects weakness in its same-store sales in 2025. CMG is currently down nearly 20% versus its 52-week high.