TEMPE, Ariz. (AP) — TEMPE, Ariz. (AP) — Dutch Bros Inc. (BROS) on Thursday reported fourth-quarter profit of $21.4 million.
The Tempe, Arizona-based company said it had profit of 17 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The drive-thru coffee chain operator and franchisor posted revenue of $443.6 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $426.8 million.
For the year, the company reported profit of $79.8 million, or 64 cents per share. Revenue was reported as $1.64 billion.
Dutch Bros expects full-year revenue in the range of $2 billion to $2.03 billion.
Dutch Bros shares have dropped 17% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $50.82, a fall of 21% in the last 12 months.
_____
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
/Amazon%20-%20Image%20by%20bluestork%20via%20Shutterstock.jpg)
/Salesforce%20Inc%20HQ%20building-by%20JHVEPhoto%20via%20Shutterstock.jpg)
/Semiconductor%20close%20up%20by%20Yosi%20Azwan%20via%20iStock.jpg)
