Dutch Bros reported strong revenue and EBITDA growth, driven by successful new shop openings and mobile order adoption. The company also saw positive results from its Dutch Rewards program and seasonal offerings. However, it anticipates margin pressure in 2025 due to elevated coffee costs.

Company Guidance

During the Dutch Bros Fourth Quarter 2024 Earnings Conference Call, the company provided robust guidance for 2025, reflecting an optimistic outlook fueled by their strong performance in 2024. Key metrics highlighted include a projected total revenue growth of 21% to 23%, reaching between $1.555 billion and $1.575 billion. Dutch Bros plans to open at least 160 new shops, representing a system growth of 16%. The company anticipates a system same-shop sales growth of 2% to 4% for the full year. Additionally, adjusted EBITDA is expected to grow by 15% to 20%, ranging from $265 million to $275 million. Capital expenditures are estimated between $240 million and $260 million, primarily for new shop construction. This guidance underscores Dutch Bros' strategic focus on expanding its footprint and enhancing its operational efficiencies while navigating potential headwinds like elevated coffee costs.

Strong Revenue Growth

In 2024, Dutch Bros achieved a revenue growth of 33%, driven by an 18% increase in new shop growth with 151 new shop openings and a 5.3% system same-shop sales growth. Q4 revenue increased by 35% compared to the same quarter last year.

Record New Shop Openings

Dutch Bros opened 151 new shops in 2024, with 128 of them being company-operated. In Q4, they opened 32 new shops, bringing the total shop count to 982.

Adjusted EBITDA Growth

Adjusted EBITDA grew by 44% in 2024, with a 41% increase in Q4 year-over-year. Adjusted EBITDA margin expanded by 140 basis points to 18% for the year.

Mobile Order Success

96% of system and 99% of company-operated shops had mobile order functionality by the end of 2024. Mobile order represented approximately 8% of the channel mix.

Candy Cane Mocha Platform Success

The Candy Cane Mocha platform saw its highest performance ever, with nearly 40% more total units sold compared to the previous year.

Dutch Rewards Program Expansion

Dutch Rewards program transactions accounted for a record 71% of total transactions, an increase of over 500 basis points year-over-year.

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Dutch Bros Inc (BROS) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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BROS Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 13, 2025	2025 (Q1)	0.12 / -	0.09	―	―	―
Feb 12, 2025	2024 (Q4)	0.02 / 0.07	0.04	75.00% (+0.03)
Nov 06, 2024	2024 (Q3)	0.12 / 0.16	0.14	14.29% (+0.02)
Aug 07, 2024	2024 (Q2)	0.13 / 0.19	0.13	46.15% (+0.06)
May 07, 2024	2024 (Q1)	0.01 / 0.09	0	―
Feb 21, 2024	2023 (Q4)	0.02 / 0.04	0.03	33.33% (+0.01)
Nov 07, 2023	2023 (Q3)	0.06 / 0.14	0.09	55.56% (+0.05)
Aug 08, 2023	2023 (Q2)	0.06 / 0.13	0.05	160.00% (+0.08)
May 09, 2023	2023 (Q1)	-0.03 / 0.00	-0.02	―
Feb 22, 2023	2022 (Q4)	0.08 / 0.03	0.02	50.00% (<+0.01)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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BROS Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 12, 2025	$64.71	$83.54	+29.10%
Nov 06, 2024	$34.94	$44.77	+28.13%
Aug 07, 2024	$37.70	$30.22	-19.84%
May 07, 2024	$28.42	$31.77	+11.79%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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