Dutch Bros Inc.: Beat — EPS $0.25, Revenue $549.84M
Earnings BeatQ3 2026 · After-market
Did Dutch Bros Inc. (BROS) beat earnings today?
Yes, Dutch Bros Inc. (BROS) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected revenue.
Earnings Per ShareIn-Line
$0.25Actual
Expected: $0.25
vs. year ago +31.6%
Total Revenue+0.25% surprise
$549.84MActual
Expected: $548.47M
vs. year ago +29.8%
Released Nov 04 · 4:05 PM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $549.84M | $423.58M | +29.8% |
| Revenue detail — reported lines | |||
| └─Company-operated shops | $515.01M | $392.83M | +31.1% |
| └─Franchising and other | $34.83M | $30.75M | +13.3% |
| Net Income | $37.23M | $27.28M | +36.5% |
| GAAP Basic EPS | $0.20 | $0.14 | +42.9% |
| GAAP Diluted EPS | $0.20 | $0.14 | +42.9% |
| Adj. Diluted EPS | $0.25 | $0.19 | +31.6% |
Financial Outlook / Guidance
| Metric | FY26 Outlook | FY27 Outlook | |
|---|---|---|---|
| Guidance | Expected | Guidance | |
| Total revenues | at least $2.1B | $2.13BMiss -1.41% | — |
| Same shop sales growth | at least 5% | — | — |
| Adjusted EBITDA | ~$380M | — | — |
| Capital expenditures | $370M-$390M | — | — |
| Total system shop openings | at least 185 | — | ~250 |
FY26 Outlook
- Total revenues
- Guidanceat least $2.1BExpected$2.13BMiss -1.41%
- Same shop sales growth
- Guidanceat least 5%Expected—
- Adjusted EBITDA
- Guidance~$380MExpected—
- Capital expenditures
- Guidance$370M-$390MExpected—
- Total system shop openings
- Guidanceat least 185Expected—
FY27 Outlook
- Total revenues
- Guidance—
- Same shop sales growth
- Guidance—
- Adjusted EBITDA
- Guidance—
- Capital expenditures
- Guidance—
- Total system shop openings
- Guidance~250
Business Highlights
- ➤Opened 48 new shops, including 42 company-operated locations.
- ➤Completed reacquisition of the Phoenix East Valley franchise rights and assets.
- ➤The Phoenix East Valley acquisition included 32 locations.
- ➤Reached 1,273 locations as of September 30, 2026.
- ➤Reported a fourteenth consecutive quarter of positive same shop sales.
- ➤Reported a ninth consecutive quarter of same shop customer visit growth.
- ➤Accelerating the pace of beverage innovation.
- ➤Testing new hot food platforms.
- ➤Enhancing digital capabilities and piloting delivery.
- ➤Dutch Rewards visits represented 74% of total customer visits.
Management Commentary
Christine Barone, Chief Executive Officer and President
“Dutch Bros continues to gain share in the high-growth beverage category. In the third quarter, we achieved our fourteenth consecutive quarter of positive same shop sales and ninth consecutive quarter of same shop customer visit growth. This is a testament to the strength of our brand, our differentiated people-led culture, and our strategic focus on expanding customer occasions.”
Christine Barone, Chief Executive Officer and President
“The investments we’ve made in our people, tools, and processes over the past several years have enabled seamless execution by our teams and strengthened the foundation of our business. As we look ahead to 2027, we’re building on that foundation and unlocking new growth opportunities across the business. From accelerating our pace of beverage innovation to testing new hot food platforms, enhancing digital capabilities and piloting delivery, we’re creating more reasons for new and existing customers to choose Dutch Bros.”