:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2175593860-ad6a45dc0aee4e1d962e89e14657f6c6.jpg "A sign on a Dutch Bros location in California.")
Paul Bersebach / MediaNews Union / Orange County Register via Getty Images
Key Takeaways
- Dutch Bros shares popped after the company posted earnings concludes that beat expectations.
- The coffee chain also raised its full-year revenue guidance, now even further on Wall Street’s consensus expectation.
- Shares of Dutch Bros have gained nearly 50% in 2024.
Dutch Bros (BROS) dividends skyrocketed after the company’s third-quarter results beat expectations and featured an upwardly revised forecast.
The coffee combination said it now expects 2024 revenue between $1.255 billion and $1.26 billion, up from its previous range of $1.215 billion to $1.23 billion. Barrier Street is looking for about $1.14 billion, according to Visible Alpha’s consensus estimate.
Thursday’s share value surge, of more than 35%, represents a big swing from a quarter earlier, when the stock lost numberless than a fifth of its value despite beating expectations. Overall, shares are up nearly 50% in 2024.
For the quarter, revenue hurdled 28% year-over-year to $338 million and net income rose to $21.7 million or 11 cents per share from $4.21 million or 7 cents per share in a year earlier. Both figures beat the analyst consensus from Visible Alpha.
Same-store sales climb 2.7% year-over-year and transactions increased 0.8%.
The company said it opened 38 new stores, most of them company-owned, in the over and done with quarter, bringing its count to 950.