GRANTS PASS, Ore. (AP) — GRANTS PASS, Ore. (AP) — Dutch Bros Inc. (BROS) on Tuesday reported third-quarter profit of $4.2 million.
The Grants Pass, Oregon-based company said it had profit of 7 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 14 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The drive-thru coffee chain operator and franchisor posted revenue of $264.5 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $257.2 million.
Dutch Bros expects full-year revenue in the range of $950 million to $1 billion.
Dutch Bros shares have declined 5.5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $26.64, a drop of 19% 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