Dutch Bros Shares Drop 42% to All-Time Low

- Advertisement -


By Dean Seal

- Advertisement -
- Advertisement -

Shares of Dutch Bros Inc. fell 42% to an all-time low of $19.60 in premarket trading after the drive-through coffee chain reported a first-quarter loss and lowered its annual earnings outlook.

The company on Thursday posted a loss of $16.3 million, or 10 cents a share, for the quarter ended March 31, a shortfall that more than tripled since the same period last year, though revenue beat Wall Street estimates at $152.2 million.

- Advertisement -

Dutch Bros executives said they now expect adjusted annual earnings before interest, taxes, depreciation and amortization of $90 million at the low point, down from a range of $115 million to $120 million. They also expect same-shop sales, which strips out the impact from recently opened or closed locations, to be roughly flat from the year earlier.

The coffee chain told investors it has been hit hard by record inflation and a drop in younger consumers, who typically visited the growing chain for cold drinks in the afternoon.

Write to Dean Seal at [email protected]

,

Credit: www.marketwatch.com /

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox