Dutch Bros Inc

BROS

Equity

ISIN US26701L1008 / Valor 113365540

New York Stock Exchange, Inc (2025-03-13)

USD 59.61-4.33%

Dutch Bros Inc
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About company

Dutch Bros Inc., founded in 1992 in Grants Pass, Oregon, by Dane and Travis Boersma, transitioned from a dairy business to a coffee-centric enterprise, initially operating from a pushcart by the railroad tracks. The company has since evolved into a prominent drive-thru coffee chain, known for its espresso-based beverages, a variety of other drink options, and a commitment to community engagement. A notable aspect of its corporate social responsibility is the annual "Drink One for Dane" event, which began in 2007 in honor of co-founder Dane Boersma after his ALS diagnosis. This event is dedicated to raising funds for the Muscular Dystrophy Association to support ALS research and patients, reflecting the company's ongoing commitment to community support and philanthropy. Dutch Bros has grown significantly from its humble beginnings, emphasizing not only quality coffee but also a unique customer experience and social impact initiatives.

Summarized from source with an LLMView SourceSector: Consumer Services

Revenue Growth

In the third quarter of 2024, Dutch Bros Inc. reported a significant revenue increase, achieving $338.2 million, which marks a 27.9% growth compared to the same period in 2023. This growth is attributed to the company's strategic and operational initiatives, as well as the successful rollout of mobile order capabilities.

Shop Openings

During Q3 2024, Dutch Bros Inc. continued its expansion by opening 38 new shops, 33 of which were company-operated, across 11 states. This consistent shop opening cadence is part of the company's refined real estate strategy, which focuses on strong new shop productivity and an elevated site selection process.

Profit and Margins

Dutch Bros Inc. reported a net income of $21.7 million for the third quarter of 2024, up from $13.4 million in the same period of 2023. The company-operated shop gross profit was $68.4 million, with a gross margin of 22.2%, which includes pre-opening costs. However, this represents a year-over-year decrease of 190 basis points in gross margin.

Adjusted Financial Metrics

Adjusted EBITDA for Dutch Bros Inc. grew by 20.3% to $63.8 million in Q3 2024, compared to $53.0 million in the same quarter of the previous year. Additionally, the adjusted net income was $27.7 million, up from $22.4 million in Q3 2023, reflecting the company's improved financial performance.

Revised 2024 Outlook

For the full year 2024, Dutch Bros Inc. has raised its revenue guidance to a range of $1.255 billion to $1.260 billion. The company also expects to open 150 new shops and has adjusted its capital expenditure estimates to between $245 million and $265 million. The outlook for same shop sales growth has been revised to approximately 4.25% for the year.

Summarized from source with an LLMView Source

Key figures

73.4%1Y

22.2%3Y

%5Y

Performance

59.3%1Y

63.2%3Y

68.0%5Y

Volatility