GRANTS PASS, Ore. (AP) — GRANTS PASS, Ore. (AP) — Dutch Bros Inc. (BROS) on Tuesday reported first-quarter net income of $7.1 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Grants Pass, Oregon-based company said it had profit of 8 cents. Earnings, adjusted for one-time gains and costs, came to 9 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The drive-thru coffee chain operator and franchisor posted revenue of $275.1 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $255.7 million.
Dutch Bros expects full-year revenue in the range of $1.2 billion to $1.22 billion.
Dutch Bros shares have dropped 10% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $28.42, a decrease of 12% 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