Dutch Bros Gets Crushed After Just a Slight Miss With Revenue Guidance

Dutch Bros (NYSE:BROS) experienced a decline in Q2 due to disappointing full-year guidance that only matched analysts’ expectations. The company saw a 30% year-over-year revenue increase, with an EPS of $0.19, surpassing the consensus estimate of $0.13. System same shop sales increased 4.1% compared to 2023. The restaurant operator reported successful new shop openings and a mobile order roll-out, adding 36 new shops in Q2. The company expects FY24 revenue to range from $1.215 billion to $1.230 billion, slightly short of the consensus estimate of $1.23 billion. BROS management cited a “volatile” consumer backdrop but did not issue any alarming statements about demand trends. Shares of BROS fell 22.2% to $29.20, marking the first time since May that BROS was trading below the $30 level. Starbucks also experienced a 1.1% drop in the postmarket session.

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