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Dutch Bros

Dutch Bros (BROS) Q2 2026 Earnings

Reported Aug 5, 2026 at 4:07 PM ET · SEC Source

Q2 26 EPS Adjusted

$0.33

BEAT +11.19%

Est. $0.30

Q2 26 Revenue

$550.9M

BEAT +4.85%

Est. $525.4M

vs S&P Since Q2 26

-18.3%

TRAILING MARKET

BROS -17.7% vs S&P +0.6%

Market Reaction

Did BROS Beat Earnings? Q2 2026 Results

Dutch Bros delivered a standout second quarter for fiscal 2026, beating Wall Street expectations on both the top and bottom lines and extending its streak of consensus EPS beats to five consecutive quarters. The drive-through coffee chain posted adju… Read more Dutch Bros delivered a standout second quarter for fiscal 2026, beating Wall Street expectations on both the top and bottom lines and extending its streak of consensus EPS beats to five consecutive quarters. The drive-through coffee chain posted adjusted EPS of $0.33, clearing the $0.30 consensus estimate by 11.19%, while revenue of $550.85 million came in 4.85% ahead of the $525.38 million consensus, representing 32.5% year-over-year growth. The primary engine behind the outperformance was a combination of accelerating unit expansion and durable same-shop momentum; company-operated same shop sales grew 8.3%, driven by both ticket and transaction gains, marking the thirteenth consecutive quarter of positive same shop sales. Net income climbed to $51.60 million from $38.36 million a year ago, and adjusted EBITDA rose 27.8% to $113.71 million. Management responded to the strong results by raising full-year 2026 revenue guidance to a range of $2.10 billion to $2.13 billion, with adjusted EBITDA now targeted at $385 million to $390 million, citing the Phoenix franchisee acquisition and continued unit whitespace opportunity as key tailwinds.

Key Takeaways

  • • Company-operated same shop sales increased 8.3% with 3.4% transaction growth
  • • Systemwide same shop sales increased 5.8% with 1.7% transaction growth
  • • 48 new shop openings in Q2 2026 (44 company-operated, 4 franchised)
  • • Systemwide AUVs reached $2,193 thousand on a trailing twelve-month basis
  • • Dutch Rewards transactions represented 73% of total transactions, up from 72%
  • • Company-operated shops contribution margin of 30.6%
  • • Adjusted SG&A improved to 13.2% of revenue from 14.1% year-over-year

BROS Forward Guidance & Outlook

Dutch Bros raised its full-year 2026 guidance (excluding the Salad and Go transaction). Total revenues are now projected at approximately $2.1 billion to $2.13 billion. Same shop sales growth is now estimated at 5% to 6%. Adjusted EBITDA is now estimated at $385 million to $390 million. Capital expenditures are now estimated at $350 million to $370 million. Total system shop openings remain estimated at at least 185.

24/7 Wall St

BROS YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

BROS Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q2 26

“Our second quarter performance reflects the strength of the Dutch Bros brand, powered by our differentiated people-led culture and our compelling value proposition that continues to resonate with customers. The success of our strategy was evident in the second quarter as we delivered our thirteenth consecutive quarter of positive same shop sales growth and our eighth consecutive quarter of same shop transaction growth. We also maintained exceptionally strong development momentum, while AUVs climbed to record levels. This performance is the result of years of foundational investments across the business, giving us tremendous confidence in our ability to continue growing Dutch Bros for the long-term.”

— Christine Barone, Q2 2026 Earnings Press Release

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