By Davit Kirakosyan
Dutch Bros Inc (NYSE:BROS) shares were trading more than 4% higher after-hours following the company’s reported Q2 results, with EPS coming in at $0.05, in line with the consensus estimate.
Revenue grew 44.2% year-over-year to $186.4 million, better than the consensus estimate of $182.24 million. Company-operated shop revenue grew 55.9% year-over-year to $160.5 million. The company opened 31 new shops across 9 states in Q2.
“We surpassed two major brand milestones during the second quarter: opening our 600th shop and exceeding $1 billion in systemwide sales on a trailing twelve-month basis. These milestones demonstrate the strength of our people-first culture and our new shop development pipeline,” said Joth Ricci, CEO and President of the company.
The company provided its full 2022-year guidance, expecting revenue of at least $715 million, compared to the consensus estimate of $713.1 million. The company estimates total system shop openings to be at least 130, of which at least 110 shops will be company-operated. Same shop sales growth is expected to be approximately flat.