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Why Dutch Bros Stock Is Getting Crushed Today

By Adam Eckert

Dutch Bros Inc (NYSE:BROS) shares are trading lower Thursday after the company reported worse-than-expected earnings results and issued guidance below analyst estimates. 

Dutch Bros said first-quarter revenue increased 54% year-over-year to $152.2 million, which beat the $145.63-million estimate, according to data from Benzinga Pro. The company said the revenue growth was primarily driven by the opening of 107 company-operated shops over the last year.

Dutch Bros reported a quarterly loss of 2 cents per share, which missed the estimate for positive earnings of 1 cent per share.

Dutch Bros said it expects full-year 2022 revenue to be between $700 million and $715 million versus the $717.22-million estimate. Adjusted EBITDA is expected to total at least $90 million.

The company said it expects to open at least 30 new shops in the second quarter and at least 130 shops in total for full-year 2022.

Analyst Assessment:

  • Stifel downgraded Dutch Bros from a Buy rating to a Hold rating and lowered the price target from $70 to $30.
  • Cowen & Co. maintained Dutch Bros with an Outperform rating and lowered the price target from $65 to $35.
  • Piper Sandler maintained Dutch Bros with an Overweight rating and lowered the price target from $75 to $44.
  • Baird maintained Dutch Bros with an Outperform rating and lowered the price target from $60 to $30.

See Also: Morning Brief: Top Financial Stories Dominating on Thursday, May 12

BROS Price Action: Dutch Bros shares are making nwe 52-week lows on Thursday.

The stock was down 36.7% at $21.77 at time of publication.

Photo: courtesy of Dutch Bros.

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