Coffee chain Dutch Bros (BROS) reported results yesterday (08/07) after hours. Today, the share price is being pummeled - down over 25% at one point
The thing is, yesterday, the company beat on both revenue and earnings. They just projected lower future revenue
One of these days I will visit “the-windmill” coffee place
Added to my BROS position.
[Edit: FWIW, this is the details of the projections-
Looking ahead, Dutch Bros (BROS) sees FY24 revenue of $1.215 billion to $1.230 billion (midpoint $1.225 billion). That range was up from the prior outlook for $1.20 billion to $1.215 billion, and had a midpoint just slightly short of the consensus estimate of $1.23 billion. BROS management pointed to a “volatile” consumer backdrop, but did not issue any alarming statements about demand trends.
Slaughtered over a $15M - $20M projected rev miss on $1.21B? Wow!