Dutch Bros Reports Strong Q4 Earnings, Exceeds Expectations
Dutch Bros Inc. (BROS) announced net income of $3.6 million for the fourth quarter, marking a turnaround from a loss in the same period last year. Translated into per-share figures, the Grants Pass, Oregon-based company reported earnings of 3 cents.
Adjusted for non-recurring factors, earnings reached 7 cents per share, surpassing Wall Street projections. A consensus estimate of six analysts surveyed by Zacks Investment Research forecasted earnings of 2 cents per share.
Revenue for the quarter amounted to $342.8 million, also exceeding analyst estimates. Seven analysts polled by Zacks had anticipated revenue of $319.1 million.
For the full year, Dutch Bros reported $35.3 million in profit or 34 cents per share, generated from $1.28 billion in revenue.
Looking ahead, the company forecasts full-year revenue in the range of $1.56 billion to $1.58 billion.
Since the start of the year, Dutch Bros shares have surged by 24%. In the concluding moments of trading on Wednesday, shares reached $64.71, a more than 100% increase over the last 12 months.