Dutch Bros (NYSE:BROS) Issues Quarterly Earnings Results

Dutch Bros (NYSE:BROS) posted its earnings results on Wednesday. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04, FiscalAI reports. The firm had revenue of $550.85 million during the quarter, compared to analysts’ expectations of $525.38 million. Dutch Bros had a net margin of 4.91% and a return on equity of 10.23%. The company’s quarterly revenue was up 32.5% compared to the same quarter last year. During the same period last year, the company posted $0.26 EPS.

Here are the key takeaways from Dutch Bros’ conference call:

• Strong Q2 performance: Revenue rose 32% to $551 million, adjusted EBITDA increased 28% to $114 million, and adjusted EPS grew to $0.33 from $0.26. Company-operated same-shop sales rose 8.3%, including 3.4% transaction growth, while system same-shop sales increased 5.8%.
• Full-year guidance was raised: Dutch Bros now expects 2026 revenue of $2.10 billion-$2.13 billion, adjusted EBITDA of $385 million-$390 million, system same-shop sales growth of 5%-6%, and at least 185 new shop openings.
• Expansion momentum remains significant: The company opened 48 shops in Q2, has approximately 90% of the pipeline needed to reach 2,029 shops by 2029, completed its acquisition of 31 Phoenix-area locations, and agreed to acquire up to 65 Salad and Go sites for potential 2027 conversions.
• New sales drivers are gaining traction: The food program reached roughly 750 shops ahead of schedule, Myst Energy Refreshers increased the energy sales mix and will become a permanent menu item, while Dutch Rewards accounted for more than 73% of transactions and Order Ahead reached approximately 16% of transactions.
• Input and occupancy costs remain headwinds: Higher coffee costs, food-program expenses, and the shift toward build-to-suit leases are expected to create approximately 60 basis points of COGS pressure and contribute to roughly 20 basis points of adjusted EBITDA margin pressure in 2026.

Dutch Bros Stock Up 0.7%

Shares of NYSE BROS traded up $0.37 during trading on Friday, reaching $53.70. The company had a trading volume of 3,481,203 shares, compared to its average volume of 4,292,548. Dutch Bros has a 12-month low of $44.58 and a 12-month high of $74.65. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The business’s 50-day moving average is $65.01 and its 200 day moving average is $57.51. The stock has a market cap of $9.38 billion, a PE ratio of 74.60, a P/E/G ratio of 2.00 and a beta of 2.32.

Trending Headlines about Dutch Bros

Here are the key news stories impacting Dutch Bros this week:

• Positive Sentiment: Q2 results exceeded expectations. Revenue rose 32.5% year over year to $550.9 million, while earnings per share reached $0.33 versus the $0.29 consensus estimate. Company-operated same-shop sales increased 8.3%, supported by traffic growth. Dutch Bros Second Quarter 2026 Financial Results
• Positive Sentiment: Management raised its growth outlook. Dutch Bros projects 2026 revenue of approximately $2.1 billion to $2.13 billion and continues to emphasize new-shop growth, digital engagement, food offerings and sustained customer traffic. The company is targeting 2,029 shops by 2029. Dutch Bros Q2 Earnings Beat Estimates
• Positive Sentiment: Analyst sentiment remains favorable. Stephens reaffirmed its overweight rating with an $80 price target, while Royal Bank of Canada maintained an outperform rating despite reducing its target from $75 to $70. Both targets imply substantial potential upside from recent trading levels. Royal Bank of Canada Lowers Dutch Bros Price Target
• Neutral Sentiment: Dutch Bros agreed to acquire up to 65 shuttered Salad and Go locations for $105 million across four states. The sites could accelerate market expansion and provide existing real estate, but the company will need to convert or redevelop the locations and generate adequate returns. Dutch Bros Strikes Deal for Salad and Go Locations
• Negative Sentiment: The muted market reaction likely reflects elevated expectations and valuation concerns. Although earnings and guidance were strong, BROS trades at a high earnings multiple, leaving less room for execution misses. The Salad and Go purchase also adds near-term capital and integration demands, which may be contributing to selling pressure after the report.

Insider Activity

In related news, major shareholder Dm Individual Aggregator, Llc sold 261,055 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $63.02, for a total transaction of $16,451,686.10. Following the sale, the insider directly owned 2,410,800 shares of the company’s stock, valued at approximately $151,928,616. This represents a 9.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Travis Boersma sold 750,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $63.02, for a total transaction of $47,265,000.00. Following the sale, the chairman owned 2,410,800 shares of the company’s stock, valued at approximately $151,928,616. This represents a 23.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 4,086,245 shares of company stock valued at $243,021,771. 38.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Dutch Bros

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV purchased a new position in shares of Dutch Bros in the fourth quarter worth $397,000. Fuller & Thaler Asset Management Inc. boosted its position in shares of Dutch Bros by 7.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,117,797 shares of the company’s stock valued at $68,432,000 after buying an additional 77,669 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Dutch Bros by 13,162.0% during the fourth quarter. NewEdge Advisors LLC now owns 6,631 shares of the company’s stock valued at $406,000 after buying an additional 6,581 shares during the last quarter. XTX Topco Ltd increased its holdings in Dutch Bros by 40.7% in the 4th quarter. XTX Topco Ltd now owns 18,846 shares of the company’s stock worth $1,154,000 after buying an additional 5,451 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Dutch Bros by 22.8% in the 4th quarter. Wellington Management Group LLP now owns 1,324,107 shares of the company’s stock worth $81,062,000 after buying an additional 246,210 shares during the last quarter. 85.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BROS shares. KeyCorp increased their price target on shares of Dutch Bros from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Stephens reiterated an “overweight” rating and set a $80.00 target price on shares of Dutch Bros in a report on Thursday. Piper Sandler increased their target price on Dutch Bros from $61.00 to $68.00 and gave the stock a “neutral” rating in a research report on Monday, June 22nd. Citigroup restated a “buy” rating on shares of Dutch Bros in a research note on Thursday. Finally, Royal Bank Of Canada decreased their price objective on Dutch Bros from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.15.

Dutch Bros Company Profile

Dutch Bros Coffee, trading on the NYSE under the ticker BROS, is an American drive-through coffee chain known for its quick-service model and community-focused brand. Founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon, the company began as a single coffee stand and has since expanded its footprint across numerous U.S. markets. Dutch Bros specializes in handcrafted espresso drinks, drip coffee, cold brew, energy drinks, smoothies, teas, and a variety of signature “Dutch Freeze” and “Dutch Frost” blended beverages.

The company operates a mix of company-owned and franchised locations, placing a strong emphasis on speed and customer engagement.