Dutch Bros Lifts Outlook After Strong Quarter as Shares Fall

Overview

• The stock is down about 13% this year and roughly 35% below its highs despite a better-than-expected quarter.
• Revenue rose 31% to $464.4 million and adjusted EBITDA increased 26% to $79.4 million, with EPS flat at $0.13.
• Same-store sales rose 8.3% as transactions increased 5.1% across the system.
• The company raised its full-year outlook to $2.05–$2.08 billion in revenue and $370–$380 million in adjusted EBITDA, and it guided to 4%–6% comparable growth for the year.
• Dutch Bros opened 41 shops in the quarter and early conversions of Clutch Coffee Bar sites in the Carolinas tripled sales at seven locations.