Q3 25 EPS
$0.19
BEAT +11.44%
Est. $0.17
Q3 25 Revenue
$423.6M
BEAT +2.41%
Est. $413.6M
vs S&P Since Q3 25
+11.0%
BEATING MARKET
BROS +20.3% vs S&P +9.4%
Market Reaction
Did BROS Beat Earnings? Q3 2025 Results
Dutch Bros served up a standout third quarter, with the fast-growing beverage chain beating on both the top and bottom lines and sending shares up more than 21% as investors digested the results. Adjusted EPS of $0.19 cleared the $0.17 consensus esti… Read more Dutch Bros served up a standout third quarter, with the fast-growing beverage chain beating on both the top and bottom lines and sending shares up more than 21% as investors digested the results. Adjusted EPS of $0.19 cleared the $0.17 consensus estimate by 11.44%, while revenue of $423.58 million topped expectations by 2.41% and grew 25.2% year-over-year, powered by the company's fifth consecutive quarter of positive transaction growth, a streak CEO Christine Barone called a category-defining milestone. Systemwide same-shop sales rose 5.7%, with transaction volume rather than price carrying much of the load, reinforcing the durability of demand across Dutch Bros' 1,081-location footprint. Shares climbed sharply on the print, reflecting renewed confidence in the brand's unit economics after record-high systemwide AUVs were reported. Management responded by raising full-year 2025 revenue guidance to approximately $1.61 billion to $1.61 billion and lifting same-shop sales growth expectations to around 5%, while maintaining adjusted EBITDA guidance of $285 million to $290 million.
Key Takeaways
- • Fifth consecutive quarter of positive transaction growth
- • Systemwide same shop sales growth of 5.7% with 4.7% transaction growth
- • Company-operated same shop sales growth of 7.4% with 6.8% transaction growth
- • Record high systemwide AUVs
- • Elevated new shop productivity
- • Dutch Rewards loyalty transactions at 71.8% of total transactions, up from 67.2% year-over-year
- • SG&A leverage improving — adjusted SG&A declined to 13.6% of revenue from 14.9%
BROS YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
BROS Revenue by Segment
With YoY comparisons, source: SEC Filings
“Dutch Bros continues to exceed expectations, driven by the passion our broistas bring to our shops everyday, a focused set of transaction-driving initiatives that provide multi-year growth visibility, and the strength of our new shop openings and pipeline.”
— Christine Barone, Q3 2025 Earnings Press Release
BROS Earnings Trends
BROS vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BROS EPS Trend
Earnings per share: estimate vs actual
BROS Revenue Trend
Quarterly revenue: estimate vs actual
BROS Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.15 | $0.16 | +3.29% | $464.4M | +3.30% |
| Q4 25 BEAT FY | $0.10 | $0.17 | +73.82% | $443.6M | +4.42% |
| FY Full Year | $0.68 | $0.64 | -5.84% | $1.64B | +1.16% |
| Q3 25 BEAT | $0.17 | $0.19 | +11.44% | $423.6M | +2.41% |
| Q2 25 BEAT | $0.18 | $0.26 | +46.56% | $415.8M | +3.03% |
| Q1 25 BEAT | $0.10 | $0.14 | +33.97% | $355.2M | +3.40% |