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Dutch Bros shares plunge after Q2 beat as same-shop growth slows
The company reported record Q2 revenue of $550.9 million and a 32.5% year-over-year increase, but the stock fell nearly 19% after the report.
Dutch Bros shares dropped sharply after the quick-service coffee retailer reported record Q2 results, even though the company beat on revenue and earnings. The stock slid nearly 19% on Thursday following an Aug. 5 release, and it is down about 35% from its February 2025 all-time high, according to MarketBeat Ratings.
In Q2, Dutch Bros posted record revenue of $550.85 million, topping analyst expectations of $525.39 million, and representing 32.5% year-over-year growth. The company also reported EPS of 33 cents versus an expected 29 cents, while adjusted EBITDA rose to $114 million, up 32.49% year over year.
MarketBeat Ratings said investor concern centered on a tempered outlook and slowing same-shop sales momentum despite an improvement in the headline results. Dutch Bros also reported it opened 48 new shops and acquired rights to 31 Phoenix-area locations in the quarter, with mobile app orders and rewards accounting for more than 73% of transactions.
Dutch Bros said on its earnings call that it saw transaction growth for the eighth consecutive quarter and positive comparable sales for the 13th straight quarter, while CEO Christine Barone characterized the pipeline as having strong development momentum. The company raised its 2026 outlook, now targeting full-year revenue of $2.1 billion to $2.13 billion and adjusted EBITDA of $385 million to $390 million, along with at least 185 new shops despite anticipated coffee-cost and occupancy pressures.
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