Dutch Bros Inc. Provides Revenues Guidance for the Second Quarter and Full Year of 2022
May 12, 2022 at 01:35 am IST
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Dutch Bros Inc. provided revenues guidance for the second quarter and full year of 2022. For full year 2022, Total revenues are projected to remain in the range of $700 million to $715 million, reflecting continued expansion in shop openings. Same shop sales growth is now estimated to be approximately flat.
For second quarter of 2022, Same shop sales are estimated to be flat to slightly negative as company face macro-economic headwinds impacting consumer discretionary income and gas prices. April same shop sales were (3.7)% in 2022 compared to 22.6% in 2021, large rollover of the year.
Dutch Bros Inc. is an operator and franchiser of drive-thru shops, which is focused on serving hand-crafted beverages. The Company sells a range of customizable hot, iced and blended beverages. Coffee-based beverages include its espresso-based custom drinks, cold brew and its proprietary Freeze blended beverages. Its Private Reserve coffee is a 100% Arabica three-bean blend, roasted in its Grants Pass facility. Its proprietary Blue Rebel energy drink is customizable with flavors and modifiers. It also offers a variety of teas, lemonades, sodas and smoothies. The Company has two segments: Company-operated shops, and Franchising and other. The Company-operated shops segment includes coffee shop sales to customers. The Franchising and other segment includes bean and product sales to franchise partners and includes the initial franchise fees, royalties, and marketing fees. It has approximately 831 shops, of which 542 are operated by the Company and 289 are franchised, across 16 states.