Q2 2024 Dutch Bros Inc Earnings Call Transcript
Key Points
- Dutch Bros Inc (BROS) reported a 30% increase in revenue and a 34% increase in adjusted EBITDA for Q2 2024.
- The company opened 36 new shops in Q2, marking the 12th consecutive quarter of 30 or more new shop openings.
- Same shop sales rose by 4.1%, and average unit volumes (AUVs) were $2 million, consistent with the previous quarter's record.
- The company raised its revenue and adjusted EBITDA guidance for the year, reflecting strong performance and confidence in future growth.
- Dutch Bros Inc (BROS) has a robust pipeline of over 400 operator candidates, ensuring a steady supply of experienced leaders for new shops.
- Labor costs increased by 50 basis points year over year, driven primarily by wage growth.
- The company is facing an evolving and uncertain consumer environment, which could impact future performance.
- Dutch Bros Inc (BROS) expects to land towards the lower end of its development range of 150 to 165 new shops in 2024.
- The company is navigating increased promotional activity in the market, which may pressure margins.
- There are concerns about potential negative same-store sales in the back half of the year due to rolling off significant pricing actions from last summer.
Please standby for live streaming.
(technical difficulty) systems during the conference, please press has to remember is now my pleasure to introduce your host, Patty Ward, Director of Investor Relations and Corporate Development. Please go ahead.
Good afternoon and welcome. I'm joined by Christine Broda, CEO and President, Josh Collins, our CFO. We issued our earnings press release for the quarter ended June 30th, 2024 after the market closed today. The earnings press release, along with supplemental information deck, has been posted to our Investor Relations website at investors.dutchbros.com.
Please be aware that all statements in our prepared remarks and responses to your question other than those of historical fact are forward looking statements are subject to risks, uncertainties and assumptions that may cause actual results to differ materially.
They're qualified by the cautionary statements in our earnings
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
