Dutch Bros Q3 revenue slightly beats estimates after new shop openings

Dutch Bros

04/11/2026 21:40

Overview
US quick service beverage chain's Q3 revenue grew yr/yr, slightly beating analyst expectations
Company opened 48 new shops

Outlook
Company now projects 2026 revenue of at least $2.1 bln
Company expects 2026 same shop sales growth of at least 5%
Company estimates 2026 adjusted EBITDA at about $380 mln

Result Drivers
SAME SHOP SALES - Co said revenue growth was driven by higher same shop sales and increased customer visits
STORE EXPANSION - Co attributed growth to 48 new shop openings and reacquisition of 32 Phoenix franchise locations
NEW INITIATIVES - Co cited investments in beverage innovation, digital capabilities, and food platform tests as supporting growth

Company press release: ID:nBw92DjPba

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Slight Beat*
$549.84 mln
$547.41 mln (21 Analysts)
Q3 Net Income
 
$37.23 mln
 
Q3 Income From Operations
 
$52.81 mln
 
Q3 Pretax Profit
 
$46.04 mln
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 25 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the restaurants & bars peer group is "buy"
Wall Street's median 12-month price target for Dutch Bros Inc. is $71.00, about 62.9% above its November 3 closing price of $43.58
The stock recently traded at 35 times the next 12-month earnings vs. a P/E of 59 three months ago

Reuters Recommended Reads
Nov 4 - McDonald's says US sales on the mend as promotions draw diners back
Nov 4 - McDonald's Q3 revenue misses estimates on weaker US comparable sales
Nov 4 - Applebee's owner Dine Brands beats Q3 sales estimates on value, menu innovation

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)