TEMPE, Ariz. (AP) — TEMPE, Ariz. (AP) — Dutch Bros Inc. (BROS) on Wednesday reported first-quarter earnings of $16.1 million.
The Tempe, Arizona-based company said it had net income of 13 cents per share. Earnings, adjusted for one-time gains and costs, came to 16 cents per share.
The results met Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was also for earnings of 16 cents per share.
The drive-thru coffee chain operator and franchisor posted revenue of $464.4 million in the period, beating Street forecasts. Nine analysts surveyed by Zacks expected $447.2 million.
Dutch Bros expects full-year revenue in the range of $2.05 billion to $2.08 billion.
Dutch Bros shares have fallen 3% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $59.27, a decline of almost 1% in the last 12 months.
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