Dutch Bros Stock Perks Up After Solid Q3 Earnings Report: Details

Dutch Bros Inc. (NYSE:BROS) shares are up after the company reported its third-quarter results after Wednesday's closing bell. Here's a look at the details from the report.

The Details: Dutch Bros reported quarterly earnings of 16 cents per share, which beat the analyst consensus estimate of 12 cents. Quarterly revenue came in at $338.21 million, which beat the analyst consensus estimate of $325.14 million and is an increase over sales of $264.51 million from the same period last year.

• Dutch Bros opened 38 new shops, 33 were company-operated, across 11 states.
• System same-shop sales and transactions increased 2.7% and 0.8%, respectively, relative to the same period in 2023.
• Company-operated same-shop sales and transactions increased 4% and 2.4%, respectively, relative to the same period of 2023.
• Company-operated shop revenues increased 30.4% to $308.3 million, as compared to $236.5 million in the same period last year.

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“We delivered exceptional performance in the third quarter as we executed our strategic and operational initiatives. We believe our brand is resonating with customers, as we had the highest same-shop transaction growth quarter in two years, outside of the impact of Leap Day. In the third quarter we delivered a 28% revenue increase and systemwide same-shop sales growth of 2.7%, which exceeded our expectations,” said Christine Barone, CEO of Dutch Bros.

Outlook: The company raised its fiscal year total revenues to be between $1.255 billion and $1.26 billion, up from the prior range of $1.215 billion to $1.23 billion.

BROS Price Action: According to Benzinga Pro, Dutch Bros shares are up 15.20% after-hours at $40.25 at the time of publication Wednesday.

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Photo: Courtesy of Dutch Bros Inc.