Live: Will Dutch Bros. (BROS) Soar After Q2 Earnings Today?
Key Points
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Dutch Bros reports earnings after the bell tonight, its expected earnings should hit newswires at about 4:05 p.m. ET.
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Here’s the Wall Street consensus for Dutch Bros second quarter. Keep in mind that any number over these is considered an ‘earnings beat.’
- Revenue: $403.6 million
- Adjusted EPS: $.18
- Same Store Sales Growth: 4.14%
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We’ll be reacting in real time when Dutch Bros reports its second quarter earnings today shortly after the bell. All you have to do is leave this page open and new updates will appear automatically.
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Live Updates
Final Reaction
| Period | EPS Estimate | EPS Actual | Revenue Estimate | Revenue Actual |
|---|---|---|---|---|
| Q2 25 | $0.18 | $0.26 ✅ | $403.6M | $415.8M ✅ |
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🟢 Sentiment: Very Positive — one of the best restaurant earnings of the quarter
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🏪 Investor Focus: Same shop sales durability + new unit ROI + margin upside
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📆 Next Catalyst: Q3 update on shop build-out and SSS carryover trends
What Changed This Quarter
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Full-year revenue guide raised + strong Q3 start signaled
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Gross margin expanded despite inflationary pressure
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Opened 41 new shops in Q2, tracking to ~150 for FY25
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Company-operated same shop sales grew +6.5% YoY
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Adj. EBITDA margin held steady as reinvestment continued
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Loyalty program growth and menu innovation cited as tailwinds
Key Operating Highlights
The revenue acceleration was paired with margin and cash flow improvements — key for a consumer-facing name in a choppy macro backdrop.
| Metric | Q2 2025 | YoY Change |
|---|---|---|
| Revenue | $415.8M | +27.1% |
| Adjusted EPS | $0.26 | +73.3% |
| Same Shop Sales Growth | +4.9% | +80 bps |
| Company-Operated Revenue | $383.2M | +29.1% |
| Franchise & Other Revenue | $32.6M | +5.1% |
| Adj. Gross Margin | 22.4% | +50 bps |
| Adj. Operating Income | $37.2M | +19.6% |
| Free Cash Flow | $40.5M | +10% |
Guidance
Raised full-year revenue to $1.58B–$1.61B (vs. prior $1.555B–$1.575B)
— Adjusted EBITDA now trending toward top half of $265M–$275M range
This was the beat-and-raise quarter investors were hoping for. Strong same shop sales, margin expansion, and visibility into H2 momentum lit the stock up after hours. BROS reasserted its place among the top-performing growth restaurants.
| Metric | FY25 Guidance | Prior Range | Status |
|---|---|---|---|
| Revenue | $1.58B–$1.61B | $1.555B–$1.575B | 📈 Raised |
| Adj. EBITDA | $265M–$275M | Unchanged (but trending high end) | ⚖️ Flat (positive bias) |
Solid quarter for BROs, beating on earnings as the share price soars
A textbook beat-and-raise quarter. Same shop sales reaccelerated, margins improved, and management pointed to sustained momentum through Q3. The 13% rally reflects investor relief after a volatile year — Dutch Bros is back in control of its growth story.
| Metric | Actual | Estimate | Beat/Miss |
|---|---|---|---|
| EPS | $0.26 | $0.18 | ✅ Beat |
| Revenue | $415.8M | $403.6M | ✅ Beat |
Dutch Bros Shares Rising Today
We’re about 75 minutes from Dutch Bros reporting earnings today and shares of the company are up about 1.25% as of 2:42 p.m. ET. That’s especially impressive considering other restaurant stocks are down today. For example, Starbucks shares are down 1.1%.
What Wall Street Expects in Q2
Here’s the Wall Street consensus for Dutch Bros second quarter. Keep in mind that any number over these is considered an ‘earnings beat.’
- Revenue: $403.6 million
- Adjusted EPS: $.18
- Same Store Sales Growth: 4.14%
Looking ahead to Q3, here’s what Wall Street expects:
- Revenue: $411.8 million
- Adjusted EPS: $.18
- Same Store Sales Growth: 4.11%
Dutch Bros has previously issued 2025 guidance of $1.555 billion to $1.575 billion in sales. We’ll see if they could update that guidance figure tonight when they issue earnings.
It’s been a wild year for shareholders of Dutch Bros (NYSE: BROS). Shares popped after earnings in February, but sank after fears of tariffs and reduced consumer spending tanked markets in early April. In early June, shares rebounded above $70 per share, but have sold off over the past couple of months back to $58.50 in midday trading before Dutch Bros reports tonight.
So, will it be another sell-off or rally after Dutch Bros reports earnings after the bell? We’ll be reacting in real time when Dutch Bros reports its second quarter earnings today shortly after the bell. All you have to do is leave this page open and new updates will appear automatically.
We expect earnings to drop about 4:05 p.m., and then we’ll get this party started with live news and analysis.
Before we look at what Wall Street is expecting this quarter, let’s look back at what Dutch Bros reported back in May.
DUTCH BROS INC. | Dutch Bros Q1’25 Earnings Highlights:
- Adj. EPS: $0.14 [✅]; UP +56% YoY
- Revenue: $355.2M [✅]; UP +29.1% YoY
- Comparable System Store Sales: +4.7% [✅]
- Adj. Gross Margin: 21.9% [➖]; FLAT YoY
- Net Income: $22.5M [✅]; UP +38.5% YoY
Q1’25 Outlook:
- Revenue: $1.555B – $1.575B [➖]
- Guidance reflects strong performance in Q1 and momentum into Q2.
- Adjusted EBITDA is trending towards the top half of the previously communicated range of $265M to $275M.
Q1 Segment Performance:
- Company-operated Shops Revenue: $326.4M [✅]; UP +31.6% YoY
- Franchising and Other Revenue: $28.7M [✅]; UP +6.4% YoY
Other Key Q1 Metrics:
- Adj. Operating Income: $31.1M [➖]; UP +21.5% YoY
- Adj. Operating Expenses: $53.5M [➖]; UP +32.3% YoY
- Free Cash Flow: $36.9M; DOWN -10.5% YoY
- Effective Tax Rate: 6.1% (vs. 36.0% YoY)
- SG&A Expenses: $58.9M (16.6% of revenue); UP from $46.2M (16.8% of revenue) YoY
- Adjusted EBITDA: $62.9M [✅]; UP +19.7% YoY
CEO Commentary:
- Christine Barone: “Our business continues to operate from a position of strength, and we are well-positioned to thrive in this dynamic environment. The enthusiasm for our brand, the loyalty of our customers, the passion of our team and a clear vision for our future give us great confidence.” Barone continued, “We delivered exceptional results in the first quarter, starting 2025 on a high note with continued momentum. In the quarter, we drove an impressive 29% revenue growth and system same shop sales growth of 4.7%, which includes positive transaction growth. Company-operated same shop sales grew 6.9%. Our brand continues to resonate with our customers, giving us confidence that our foundational transaction drivers are working and propelling us forward. We have a clear roadmap ahead of us and are well-positioned to continue generating sustainable long-term growth.”
CFO Commentary:
- Josh Guenser: “We are optimistic about our ability to navigate evolving macroeconomic conditions with robust four-wall economics and excellent cash-on-cash returns. Given the strong performance in the first quarter and the continued momentum into the second quarter, 2025 total revenues, same shop sales growth and adjusted EBITDA are trending towards the top half of the ranges we provided last quarter.”
Eric Bleeker has been investing for more than 20 years. He began his career working at Microsoft before joining Motley Fool, one of the largest publishers of financial research. In his 15 years at Motley Fool Eric served as the General Manager for Fool.com and led coverage in the Technology & Telecom sector. In addition, he was a featured columnist and has hosted dozens of investing seminars attended by more than a million total investors. Eric has more than 1,000 financial bylines to his name and has been featured in The Wall Street Journal, CNBC, Fox Business, and many other leading publications. He is currently focused on artificial intelligence investing and is a CFA Charterholoder.
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