Dutch Bros Inc. raised its 2026 revenue and adjusted EBITDA outlook after second-quarter results and the Phoenix franchise acquisition, even as its shares trade at a forward 12-month price-to-earnings multiple of 38.45X. Management lifted its 2026 revenue guidance to $2.10-$2.13 billion from $2.05-$2.08 billion, and now expects systemwide same-shop sales growth of 5% to 6%, up from the prior 4%-6% range. Adjusted EBITDA is projected between $385 million and $390 million, up from the earlier expectation of $370-$380 million, while the Zacks Consensus Estimate for 2026 earnings per share has risen from 93 cents to 97 cents over the past 60 days. The company expects to open at least 185 system shops in 2026, with roughly 90% of the development pipeline tied to its target of 2,029 shops in 2029 already identified, and it projects capital expenditures of $350 million to $370 million in 2026. Offsetting that growth, Dutch Bros anticipates third-quarter systemwide same-shop sales growth of about 4-5%, reflecting lower effective pricing and tougher comparisons, along with roughly 60 basis points of cost-of-goods-sold pressure and about 50 basis points of occupancy pressure for the full year. The stock carries a Zacks Rank #3 (Hold).
Dutch Bros IncDutch Bros raised its 2026 revenue and adjusted EBITDA guidance after Q2 results and the Phoenix franchise acquisition, with EPS estimates rising.
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