Dutch Bros Q3 2021 Earnings Report
Key Takeaways
Dutch Bros Inc. reported strong third-quarter results, surpassing 500 operating shops and achieving a 49.8% increase in total revenues to $129.8 million. The company's focus remains on expanding its footprint and enhancing customer experiences.
Surpassed 500 operating shops with the opening in Hutto, Texas.
Opened 33 new shops, with 30 being company-operated.
Total revenues increased by 49.8% to $129.8 million compared to the same period last year.
System same shop sales grew by 7.3%.
Dutch Bros
Dutch Bros
Dutch Bros Revenue by Segment
Forward Guidance
For the fourth quarter, the company expects total system shop openings to be at least 30, total revenue to be in the range of $125.0 million - $128.0 million, same shop sales are estimated in the mid single-digits, and Adjusted EBITDA is projected to be in the range of $12.5 million - $13.5 million. For the year 2022, total system shop openings are expected to be at least 112.
Positive Outlook
- Total system shop openings are expected to be at least 30.
- Total revenue is projected to be in the range of $125.0 million - $128.0 million.
- Same shop sales are estimated in the mid single-digits.
- Adjusted EBITDA is projected to be in the range of $12.5 million - $13.5 million.
- Total system shop openings are expected to be at least 112 in 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income