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Dutch Bros Inc. (NYSE:BROS) shares are trading lower after the company reported its second-quarter financial results Wednesday. Here's a look at the key details.
The Details: Dutch Bros reported quarterly earnings of 19 cents per share which beat the analyst consensus estimate of 13 cents by 46.15%. Quarterly sales came in at $324.9 million which beat the analyst consensus estimate by 2.55% and is a 30.02% increase from the same period last year.
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Dutch Bros opened 36 new shops, 30 of which were company-operated, across 13 states in the second quarter and system same shop sales increased 4.1% relative to the same period in 2023. Company-operated same-shop sales increased 5.2% year-over-year, and company-operated shop revenues increased 33.6% to $295.3 million.
“Our quarterly performance demonstrates the long runway ahead for Dutch Bros as we once again delivered strong top-line and profitability growth. Revenue rose 30%, including a 4.1% increase in system same-shop sales, and was underpinned by excellent margin flow through. With strong results 2024 to date despite the volatile consumer backdrop and expectations for a robust second half to the year, we are pleased to be raising our annual guidance,” said Christine Barone, CEO of Dutch Bros.
Outlook: Dutch Bros raised its full-year revenue guidance to a range of $1.215 billion to $1.23 billion, versus the $1.23 billion estimate, and raised its adjusted EBITDA guidance to a range of $200 million to $210 million.
BROS Price Action: According to Benzinga Pro, Dutch Bros shares are down 13.79% after-hours at $32.50 at the time of publication Wednesday.
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Image: Chris from Pixabay
Posted In: BROS
