The western U.S. coffee chain lowered its expectations for full-year adjusted EBITDA to $380 million, retreating from a previous guidance range of $385 million to $390 million. Management also signaled caution on top-line growth, projecting total sales at the low end of their $2.1 billion target, with same-store sales growth now expected to hover at the 5% floor.
In section Market Quotes
Dutch Bros Shares Slide Following Outlook Downgrade
Investors hammered Dutch Bros stock in after-hours trading Wednesday, sending shares down 18% to $35.88 after the coffee chain trimmed its annual earnings forecast. This sharp decline compounds a difficult year for the company, which has seen its market value drop 29% since the start of 2024.
This tempered outlook arrived despite a third-quarter performance that largely topped Wall Street expectations. Revenue climbed 30% to $549.8 million, edging past the $548.3 million consensus estimate, while net profit rose to $27.2 million, or 20 cents per share, up from $17.5 million during the same period last year.
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