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Jun 30, 2022
Dutch Bros Q2 2022 Earnings Report
Dutch Bros' Q2 2022 performance reflected strong revenue growth and strategic expansion, but profitability was impacted by inflationary pressures.
Key Takeaways
Dutch Bros Inc. reported a 44% increase in revenue to $186.4 million, driven by new shop openings. The company opened 31 new shops and surpassed 600 locations. However, net loss was $(1.8) million, impacted by non-cash equity-based compensation and inflationary pressures.
Opened 31 new shops across 9 states, with new shops exhibiting an annualized AUV of $2.1 million.
Total revenues grew 44.2% to $186.4 million compared to the same period in 2021.
System same shop sales declined (3.3)%, but grew 6.9% vs. 2019.
Company-operated shop margins improved 630bps from 18.3% to 24.6% when compared to the first quarter of 2022.
Revenue by Segment
Forward Guidance
Dutch Bros is affirming its full-year 2022 outlook.
Positive Outlook
- Total system shop openings are expected to be at least 130, of which at least 110 shops will be company-operated.
- Total revenues are now projected to be at least $715 million.
- Same shop sales growth is estimated to be approximately flat.
- Adjusted EBITDA is estimated to be at least $90 million.
- Capital expenditures are estimated to be in the range of $175 million to $200 million, which includes approximately $15 million to $20 million for our new roasting facility that we project will open in late 2023 / early 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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