GRANTS PASS, Ore. (AP) — GRANTS PASS, Ore. (AP) — Dutch Bros Inc. (BROS) on Wednesday reported second-quarter earnings of $11.9 million.
On a per-share basis, the Grants Pass, Oregon-based company said it had profit of 12 cents. Earnings, adjusted for one-time gains and costs, were 19 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The drive-thru coffee chain operator and franchisor posted revenue of $324.9 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $317.1 million.
Dutch Bros expects full-year revenue in the range of $1.22 billion to $1.23 billion.
Dutch Bros shares have increased 19% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $37.70, a rise of 35% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BROS at https://www.zacks.com/ap/BROS
