Positive.

From Nasdaq: 2024-11-20 07:30:00

Dutch Bros Inc. (NYSE: BROS) is a successful drive-thru coffee shop operator with 950 locations in 18 states, known for its quick service. In Q3 of 2024, the company reported a 29% YoY revenue growth and $2 million average unit volume per shop.

Dutch Bros competes with Starbucks and Luckin Coffee, with plans to add 150 stores in 2024. They prioritize promoting from within, with over 400 operator candidates and 400,000 annual job applications.

Q3 results for Dutch Bros were impressive, with 27.9% YoY revenue growth, 2.7% SSS growth, and 38 new store openings. The Dutch Rewards loyalty program saw record sign-ups, and the company raised its 2024 revenue guidance.

Food sales are a focus for Dutch Bros, with plans to expand the menu. CEO Christine Barone sees a significant opportunity in food sales, which currently make up less than 2% of total revenue.

Dutch Bros stock formed a daily pennant pattern after Q3 earnings, with a $47.30 average price target. Bullish options strategies suggest buying on a pullback to support levels for potential upside.



Read more at Nasdaq:: Dutch Bros’ Growth Perks: Can This Coffee Stock Hit New Highs?