Dutch Bros shares dropped nearly 20% after its second-quarter earnings report, as investors reacted to guidance implying a deceleration in same-store sales growth in the second half. The company raised its full-year revenue forecast to between $2.1 billion and $2.13 billion and adjusted EBITDA to $385 million to $390 million, while same-store sales growth is now expected at 5% to 6%, down from a prior low end of 4%. Second-quarter revenue rose 32.5% to $550.9 million and earnings per share surged 40% to $0.28, with company-operated comparable-store sales up 8.3%. Dutch Bros reiterated its goal of reaching 2,029 shops by 2029 and plans at least 185 new locations this year, and it recently acquired 31 Phoenix-area franchise stores for $63.5 million while also buying real estate from bankrupt Salad and Go to convert 65 locations.
Dutch Bros IncQ2 earnings report with guidance implying deceleration in same-store sales growth, causing shares to drop 20%.
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