Dutch Bros Beats Q2 Estimates, Raises Q3 Guidance: Here's Why the Stock is Falling
Dutch Bros Inc (NYSE: BROS ) stock is trading lower after the company reported second-quarter financial results Wednesday after market close. • Dutch Bros stock is feeling bearish pressure. Here are the key highlights. Dutch Bros Q2 Results Dutch Bros reported second-quarter revenue of $550.9 million, up 32.5% year-over-year. The revenue total beat a Street consensus estimate of $525.5 million, according to data Pro. The company reported earnings of 33 cents per share, beating a Street consensus estimate of 29 cents per share. Company-owned same-shop sales were +8.3% year-over-year in the quarter. Systemwide same shop sales growth was +5.8% year-over-year in the quarter. Dutch Bros opened 48 new stores in the quarter, with 44 being company-operated. This marked the 13 th consecutive quarter of positive same-shop sales growth and eighth consecutive quarter of same-shop transaction grow...
Dutch Bros Inc (NYSE: BROS ) stock is trading lower after the company reported second-quarter financial results Wednesday after market close. • Dutch Bros stock is feeling bearish pressure.
Here are the key highlights.
Dutch Bros Q2 Results Dutch Bros reported second-quarter revenue of $550.9 million, up 32.5% year-over-year.
The revenue total beat a Street consensus estimate of $525.5 million, according to data Pro.
The company reported earnings of 33 cents per share, beating a Street consensus estimate of 29 cents per share.
Company-owned same-shop sales were +8.3% year-over-year in the quarter.
Systemwide same shop sales growth was +5.8% year-over-year in the quarter.
Dutch Bros opened 48 new stores in the quarter, with 44 being company-operated.
This marked the 13 th consecutive quarter of positive same-shop sales growth and eighth consecutive quarter of same-shop transaction growth. "We also maintained exceptionally strong development momentum, while AUVs climbed to record levels," Dutch Bros CEO Christine Barone said.
What’s Next for Dutch Bros The company raised guidance for revenue, EBITDA and same-shop sales growth after the quarterly results.
Dutch Bros now expects full-year revenue to be between $2.1 billion and $2.13 billion.
The previous guidance was $2.05 billion to $2.08 billion.
The Street is estimating full-year revenue at $2.084 billion, according to data Pro.
Guidance for same-shop sales growth is in the range of 5% to 6%.
Adjusted EBITDA is expected to be in a range of $385 million to $390 million. "We enter the second half of the year from a position of strength, with a focused plan, strong visibility into our growth initiatives, and a clear path to turning the significant whitespace ahead of us into durable growth," Dutch Bros Chief Financial Officer Josh Guenser said.
The company expects to open at least 185 new shops in the fiscal year.
Company Announces Real Estate Acquisition While the double beat and raised guidance comes in strong, investors may be reacting to news that Dutch Bros has acquired the real estate and related site assets of up to 65 Salad and Go locations across Arizona, Nevada, Oklahoma and Texas.
Salad and Go recently filed for bankruptcy and is shutting down all locations.
The company’s announcement said the deal is expected to close in the third quarter and will give Dutch Bros a portfolio of "established drive-thru locations" that will be converted to Dutch Bros stores in 2027. "New shop growth is one of the most important drivers of our long-term strategy, and this potential site acquisition demonstrates how we’re investing to accelerate that growth," Barone said.
Financial terms of the acquisition were undisclosed.
Dutch Bros Stock Price Action Dutch Bros stock is down 14.47% to $56.17 in after-hours trading Wednesday versus a 52-week trading range of $44.58 to $74.65.
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