GRANTS PASS, Ore. (AP) — GRANTS PASS, Ore. (AP) — Dutch Bros Inc. (BROS) on Wednesday reported fourth-quarter net income of $3.6 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Grants Pass, Oregon-based company said it had net income of 3 cents. Earnings, adjusted for one-time gains and costs, were 7 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The drive-thru coffee chain operator and franchisor posted revenue of $342.8 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $319.1 million.
For the year, the company reported profit of $35.3 million, or 34 cents per share. Revenue was reported as $1.28 billion.
Dutch Bros expects full-year revenue in the range of $1.56 billion to $1.58 billion.
Dutch Bros shares have climbed 24% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $64.71, more than doubling 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
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