TEMPE, Ariz. (AP) — TEMPE, Ariz. (AP) — Dutch Bros Inc. (BROS) on Wednesday reported third-quarter profit of $17.5 million.
On a per-share basis, the Tempe, Arizona-based company said it had net income of 14 cents. Earnings, adjusted for one-time gains and costs, were 19 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.
The drive-thru coffee chain operator and franchisor posted revenue of $423.6 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $411.1 million.
Dutch Bros expects full-year revenue in the range of $1.61 billion to $1.62 billion.
Dutch Bros shares have increased 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $55.56, a climb of 65% 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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