Dutch Bros (BROS 28.42%) stock is soaring in Thursday's trading. The coffee chain's share price was up 26.8% as of 11:30 a.m. ET. Shares had been up as much as 33.5% earlier in the day's trading.
Dutch Bros published fourth-quarter results after the market closed yesterday and delivered sales and earnings performance that crushed the market's expectations. The company also gave some very strong guidance for 2025.
Dutch Bros posted non-GAAP (adjusted) earnings per share of $0.07 on sales of roughly $342.8 million in the fourth quarter. The performance came in far better than the average Wall Street analyst targets, which had called for adjusted earnings per share of $0.02 on sales of $318.8 million.
Revenue was up 34.9% year over year in the quarter, and the business opened 32 new shops in the period. Overall same-store sales were up 6.9% year over year in the quarter, and company-operated shops saw same-store growth of 9.5% in the period.
The company closed out the year with 982 shops and revenue up 33% annually to reach $1.28 billion. New shop openings and 5.3% growth for same-store sales powered explosive growth for the chain. The company opened 151 new shops last year, and it plans to open even more in 2025.
Dutch Bros says it expects to open at least 160 new shops this year. In conjunction with the new buildouts, capital expenditures are projected to come in between $240 million and $260 million. Same-store sales are projected to grow between 2% and 4% for the year.
Revenue for 2025 is expected to come in between $1.555 billion and $1.575 billion -- representing growth of 22.2% at the midpoint of the guidance range. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) is projected to be between $265 million and $275 million -- good for growth of roughly 17.2% at the midpoint of the target. With the company seeing solid same-store sales growth and ramping up new store openings, Dutch Bros' growth engine is looking strong in 2025.
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