Dutch Bros. (NYSE:BROS) stock is falling lower on Thursday following the release of the coffee chain’s earnings report for the second quarter of 2024.
Dutch Bros. begins its earnings report with an adjusted EPS of 19 cents. That’s better than the 13 cents per share that Wall Street was expecting. Its also better than the 13 cents per share from the same period of the year prior.
On top of that, BROS reported revenue of $324.9 million in Q2 2024. That’s another beat next to analysts’ revenue estimate of $317.98 million. It’s also a 30% increase year-over-year from $249.9 million.
Guidance Hits BROS Stock
Dutch Bros. also increased its 2024 revenue guidance to between $1.215 billion and $1.23 billion. That’s up from its prior range of $1.2 billion and $1.215 billion. However, its still lacking compared to Wall Street’s 2024 revenue estimate of $1.23 billion.
Christine Barone, CEO of Dutch Bros., said the following in the latest earnings report.
“With strong results 2024 to date despite the volatile consumer backdrop and expectations for a robust second half to the year, we are pleased to be raising our annual guidance.”
BROS stock is down 20.7% as of Thursday afternoon.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
