Dutch Bros Inc. (BROS) Tops Q3 EPS by 8c

Dutch Bros Inc. (NYSE: BROS) reported Q3 EPS of $0.14, $0.08 better than the analyst estimate of $0.06. Revenue for the quarter came in at $265 million versus the consensus estimate of $258.33 million.

GUIDANCE:

Dutch Bros is providing the following guidance for the year 2023:

• Our expectation for total system shop openings in 2023 remains unchanged. We expect to open at least 150 new shops, of which at least 130 will be company-operated.
• Our expectation for capital expenditures remains unchanged, which we expect to be in the range of $225 million to $250 million. This includes approximately $15 million to $20 million in spending in 2023 for a new roasting facility, which is projected to open in 2024.
• Our estimate of system same shop sales growth in the low single digits remains unchanged.
• Our expectation that revenue would be at the lower end of the range of $950 million to $1 billion remains unchanged.
• Given the strength of company-operated shops and continued SG&A leverage, we now estimate Adjusted EBITDA3 will be between $150 million to $155 million, up $15 million from last quarter. This reflects stronger than expected year-to-date profitability in Q3, partially offset by the increased shop labor investments in the range of $1.5 million to $2.0 million as well as certain investments we intend to make in business building activities throughout the fourth quarter.

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

You May Also Be Interested In

• Dutch Bros Inc. (BROS) PT Raised to $90 at DA Davidson on Sales/Earnings Upside
• Qualcomm investor day to detail data center plans Wednesday
• Carnival Corp. (CCL) Tops Q2 EPS by 8c, Beats on Revenue; Offers Guidance