Dutch Bros Reports Strong Q4 Earnings and Expansion Plans

The coffee chain's aggressive growth strategy includes opening 150 to 165 new shops in 2024, despite market challenges.

Dutch Bros Inc. exceeded Q4 expectations with a Non-GAAP EPS of $0.04, outpacing forecasts by $0.03, and a 25.9% year-over-year revenue increase to $254.1M.
The company announced plans to open between 150 to 165 new locations in 2024, aiming for a strategic expansion despite projected capital expenditures of $280M to $320M.
Despite strong financial performance, Dutch Bros faces challenges with total revenue projections for 2024 slightly below consensus and anticipated low single-digit same-shop sales growth.
Shares of Dutch Bros climbed 7.17% after-hours following the announcement of better-than-expected Q4 results.
For the year, Dutch Bros reported a net income of $10M, swinging to a profit, with full-year revenue reported as $965.8M and expectations of $1.19B to $1.21B for 2024.