Dutch Bros Inc. (BROS) Misses Q4 EPS by 5c, Offers Guidance

Dutch Bros Inc. (NYSE: BROS) reported Q4 EPS of $0.03, $0.05 worse than the analyst estimate of $0.08. Revenue for the quarter came in at $201.8 million versus the consensus estimate of $196.37 million.

GUIDANCE:

Dutch Bros Inc. sees FY2023 revenue of $950-1000 million, versus the consensus of $980.6 million.

• Total system shop openings in 2023 are expected to be at least 150, of which at least 130 shops will be company-operated.
• Total revenues are projected to be between $950 million and $1 billion.
• Same shop sales growth is estimated to be in the low single digits. At this point we have no plans to take additional menu pricing in 2023. We expect low-single digits growth from pricing to roll-over into 2023 from menu pricing taken in 2022.
• Adjusted EBITDA is estimated to be approximately $125 million. This includes approximately $8 million in labor investments related to wage increases in federal minimum wage markets and approximately $11 million in mandated wage increases in markets that do not adhere to the federal minimum wage standard. This Adjusted EBITDA estimate includes our present assumption around no menu price increases in 2023.
• Capital expenditures are estimated to be in the range of $225 million to $250 million, which includes approximately $15 million to $20 million for our new roasting facility projected to open in 2024.

For earnings history and earnings-related data on Dutch Bros Inc. (BROS) click here.

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