Q1 26 EPS
$0.16
BEAT +3.29%
Est. $0.15
Q1 26 Revenue
$464.4M
BEAT +3.30%
Est. $449.6M
vs S&P Since Q1 26
+16.1%
BEATING MARKET
BROS +16.3% vs S&P +0.2%
Market Reaction
Did BROS Beat Earnings? Q1 2026 Results
Dutch Bros Inc. Delivered a clean beat to kick off fiscal 2026, with first-quarter earnings per share of $0.16 topping the $0.15 consensus by 3.29%, extending the company's streak to four consecutive quarters of beating EPS estimates. Revenue climbed… Read more Dutch Bros Inc. Delivered a clean beat to kick off fiscal 2026, with first-quarter earnings per share of $0.16 topping the $0.15 consensus by 3.29%, extending the company's streak to four consecutive quarters of beating EPS estimates. Revenue climbed 30.8% year-over-year to $464.41 million, clearing the $449.59 million consensus by 3.30%, as systemwide same-shop sales surged 8.3%, driven by a 5.1% transaction increase that marked the seventh straight quarter of transaction growth. The expansion engine also hummed along, with 41 new shop openings bringing the total system to 1,177 locations across 25 states. Adjusted EBITDA rose 26.2% to $79.37 million, though operating expense growth, particularly in beverage, food, and packaging costs, compressed company-operated shop contribution margins modestly. Investors watching the growth trajectory will note management raised full-year 2026 guidance, now projecting revenues of $2.05 billion to $2.08 billion and Adjusted EBITDA of $370 million to $380 million, citing continued momentum into the second quarter.
Key Takeaways
- • Systemwide same shop sales increased 8.3%, including 5.1% transaction growth — seventh consecutive quarter of transaction growth
- • Company-operated same shop sales increased 10.6% with 6.9% transaction growth
- • Opened 41 new shops (33 company-operated, 8 franchised) in Q1 2026
- • Total system shop count reached 1,177 locations across 25 states
- • Dutch Rewards loyalty transactions increased to 74% of total transactions from 72%
- • Systemwide AUV increased to $2,160 thousand from $2,026 thousand year-over-year
- • Strength seen across existing and new markets, throughout dayparts and customer segments
- • Adjusted SG&A improved to 14.1% of revenue from 15.1% year-over-year
BROS Forward Guidance & Outlook
Dutch Bros raised its full-year 2026 guidance across all key metrics. Total revenues are now projected at approximately $2.05 billion to $2.08 billion. Same shop sales growth is now estimated at 4% to 6%. Adjusted EBITDA is now estimated between $370 million and $380 million. Total system shop openings are now estimated at least 185. Capital expenditures remain estimated at $270 million to $290 million. The guidance raise was driven by strong Q1 performance and continued momentum into Q2.
BROS YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
BROS Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our first quarter results reinforce that Dutch Bros continues to operate in a category of its own. Our foundation is built for long-term scale, anchored by our people-led culture, meaningful customer connection, and industry-leading innovation. I am incredibly proud of the execution from our teams, and the results they have driven.”
— Christine Barone, Q1 2026 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% |