Dutch Bros (BROS) beats Q3 2025, raises full‑year sales outlook to $1.61B–$1.615B

5 November 2025

Key takeaways (today): Revenue +25% YoY to $423.6M; adjusted EPS $0.19 vs. ~$0.17 expected; system same‑shop sales +5.7%; FY25 revenue outlook lifted; 160 shop openings targeted in 2025 and ~175 in 2026. ^[1]

What happened today

Dutch Bros (NYSE: BROS) reported third‑quarter 2025 results after the bell, delivering 25% year‑over‑year revenue growth to $423.6 million and systemwide same‑shop sales up 5.7% (company‑operated +7.4%). Management said this marked the fifth consecutive quarter of positive transaction growth and noted systemwide AUVs at record highs. ^[2]

The company raised full‑year 2025 revenue guidance to $1.61B–$1.615B (from the prior $1.59B–$1.60B range communicated with Q2 results), reiterated adjusted EBITDA of $285M–$290M, and maintained capex at $240M–$260M. Dutch Bros continues to target ~160 total system shop openings in 2025 and ~175 in 2026. ^[3]

CEO Christine Barone said the quarter reflected “our fifth consecutive quarter of positive transaction growth,” underscoring momentum heading into Q4. ^[4]

By the numbers (Q3 2025)

Revenue: $423.6M (+25.2% YoY). ^[5]
GAAP diluted EPS:$0.14 (vs. $0.11 YoY). ^[6]
Adjusted EPS:$0.19 (vs. ~$0.17 consensus preview). ^[7]
Same‑shop sales:+5.7% systemwide; +7.4% company‑operated; transaction growth +4.7% systemwide and +6.8% company‑operated. ^[8]
Shop development:38 new shops opened in Q3 (34 company‑operated) across 17 states; 1,081 locations in 24 states as of Sep. 30, 2025. ^[9]
Profitability mix: Adjusted EBITDA $78.0M (+22.3% YoY); company‑operated revenue $392.8M (+27.4% YoY). ^[10]

Beat vs. expectations: Multiple outlets pegged consensus at ~$414–$415M revenue and ~$0.17 EPS, implying top‑ and bottom‑line beats on today’s print ($423.6M / $0.19 adjusted EPS). ^[11]

Guidance & 2026 outlook (updated today)

FY25 revenue:$1.61B–$1.615B (raised).
FY25 same‑shop sales: ~+5%.
FY25 adjusted EBITDA:$285M–$290M (unchanged).
FY25 capex:$240M–$260M (unchanged).
Openings:~160 total system shops in 2025; ~175 targeted in 2026. ^[12]

Context: The revenue range was previously $1.59B–$1.60B after Q2; today’s update pushes that higher. ^[13]

How the stock is trading today

Into the print and after hours, BROS shares were volatile. As of the latest tick, the stock traded around the mid‑$50s with intraday range roughly $52.68–$58.00 and heavy volume versus average. The 52‑week range stands at $32.69–$86.77. ^[14]

Analyst snapshot: Ahead of results, consensus looked for ~$414.7M revenue and $0.17 EPS; 12‑month price targets recently hovered in the mid‑to‑upper $70s (directional, varies by source). ^[15]

Why it matters to investors

Transactions are driving: Dutch Bros’ strategy continues to grow traffic, not just ticket, a healthier mix for long‑term share gains. ^[16]
Unit expansion intact: With 1,081 shops and a clear pipeline, Dutch Bros is still in early innings of national build‑out relative to larger peers. ^[17]
Profit algorithm: Despite pre‑opening costs pressuring some margins, SG&A leverage and scale should support the $285M–$290M adjusted EBITDA goal. ^[18]

What to watch next (today)

Earnings call:5:00 p.m. ET, Nov. 5 — prepared remarks and Q&A with CEO Christine Barone and CFO Joshua Guenser; slides to post on the IR site. Expect color on Q4 traffic, mobile order adoption, and the 2026 build cadence. ^[19]

Quick FAQ

What moved BROS today? A Q3 beat on revenue and adjusted EPS plus a raised FY25 sales outlook. ^[20]

How big is Dutch Bros now?1,081 locations across 24 states as of Sept. 30, 2025. ^[21]

Where is the stock trading relative to history? Well below the 52‑week high ($86.77) but above the 52‑week low ($32.69). ^[22]

Disclosure: This article is for informational purposes only and is not investment advice. Always do your own research.

Dutch Bros Stock (BROS): Buy, Hold, or Sell? | 2 Minute Analysis

Watch this video on YouTube.

References

Tags:

Marcin Frąckiewicz Latest posts

CEO of TS2 Space and founder of TS2.tech. Expert in satellites, telecommunications, and emerging technologies, covering trends in space, AI, and connectivity.

View all

QuidelOrtho Q3 Revenue Beats Estimates, but EPS Guidance Cut Highlights Mixed Outlook
November 5, 2025, 10:34 PM EST. QuidelOrtho (QDEL) posted Q3 CY2025 revenue of $699.9 million, beating consensus of $665.4 million despite a 3.7% year-over-year decline. The company delivered an adjusted EPS of $0.80, well ahead of estimates ($0.47), and adjusted EBITDA of $177.1 million vs $139.5 million expected. Management nudged full-year revenue guidance to a midpoint of $2.71 billion but trimmed adjusted EPS guidance to $2.08 (about a 10% cut). The operating margin remained weak (negative in the quarter), signaling ongoing margin pressure. Long-term growth remains a concern, with trailing-12-month sales near where they were five years ago and analysts penciling in only modest growth (~1.5%) over the next year. Investors should weigh the near-term beat against longer-term quality questions.
Energy Recovery (ERII) Q3 CY2025: Revenue Beats but Margin Drops, Stock Dips
November 5, 2025, 10:32 PM EST. Energy Recovery (ERII) posted Q3 CY2025 results that beat revenue expectations $32M vs $29.94M estimates, yet YoY revenue declined 17.1% to $32 million. Non-GAAP EPS was $0.12, beating consensus by $0.02. Adjusted EBITDA came in at $6.8M vs $7.21M expected, with an operating margin of 11.4% (down from 18.3% a year ago). Free cash flow was -$3.5M vs -$3.17M prior year. Market cap around $873M. Long-term growth shows 5-year revenue CAGR ~3.8%, while the last two years' pace rose to ~9.2%, suggesting momentum. Analysts project ~31.1% revenue growth over the next 12 months, driven by newer products and services. Stock reaction followed the quarter's results.
Array (ARRY) Surges in Q3 on Revenue Beat and Higher Guidance
November 5, 2025, 10:30 PM EST. Array (ARRY) delivered a strong Q3 beat with revenue of $393.5 million, up 70% YoY and 26.3% above estimates. Adjusted EPS came in at $0.30 vs $0.20 consensus (a 48.9% beat). Adjusted EBITDA was $72.19 million, vs $56.76 million expected (an 18.3% margin and 27.2% beat). The company raised its full-year revenue guidance to a midpoint of $1.27 billion (up from $1.20 billion, +5.6%) and nudged Adjusted EPS guidance to $0.67. EBITDA guidance is $190 million at the midpoint, below some estimates ($196 million). Operating margin improved to 11.6% from -57.3% a year ago; Free Cash Flow Margin is 5.6%, down from 24.1%. The APA acquisition completed in August underpins expanded solar offerings.
Dutch Bros stock climbs after solid Q3, lifts full-year sales outlook
November 5, 2025, 10:28 PM EST. Shares of Dutch Bros rose about 3% after-hours as the coffee chain posted Q3 earnings that topped expectations. It reported same-store sales growth of about 5.7%, ahead of the ~4% consensus, and beat on both top and bottom line results. Management also raised its full-year guidance, targeting around 5% same-store sales growth for the year. The beat is driven by a drive-through model, energy drinks, and menu experiments as the chain expands into food. Dutch Bros continues to push rapid store growth and a differentiated customer experience, setting it apart from other coffee peers in a tougher environment.
Halozyme Therapeutics (HALO) Valuation Update: Is HALO Undervalued After a Strong Rally?
November 5, 2025, 10:26 PM EST. Halozyme Therapeutics has surged about 40% year-to-date, fueling investor interest in its valuation. Our latest read points to a fair value of $74.44, suggesting the stock remains undervalued versus the recent close around $68.05, with potential upside if growth drivers materialize. The catalyst is the ENHANZE subcutaneous delivery platform expanding adoption (e.g., DARZALEX SC in the US and Phesgo for at-home use), which could boost royalty revenues and drive net margin expansion over time. However, risks linger from patent challenges and heightened competition that could affect future growth. Investors should weigh this mix and consider how the biotech delivery shift supports Halozyme's long-term thesis.

Dutch Bros (BROS) beats Q3 2025, raises full‑year sales outlook to $1.61B–$1.615B — Stock moves today (Nov. 5, 2025)

What happened today

By the numbers (Q3 2025)

Guidance & 2026 outlook (updated today)

How the stock is trading today

Why it matters to investors