Dutch Bros Stock Surges on Strong Earnings Beat and Raised Guidance

Dutch Bros shares soared as much as 24% Thursday after the coffee chain delivered a robust earnings beat and raised its full-year revenue forecast. Second-quarter revenue climbed 28% year-over-year to $416 million, surpassing analyst estimates of $404 million. Adjusted earnings per share of $0.26 crushed expectations of $0.18.

Same-store sales growth accelerated to 6.1% systemwide, with company-owned locations jumping 7.8%. The performance stands in stark contrast to struggling competitors - Starbucks recently reported just 4% revenue growth with declining global comparable sales.

Management boosted its 2024 revenue guidance midpoint to $1.595 billion from $1.565 billion previously. The strong results demonstrate Dutch Bros' ability to gain market share despite broader restaurant industry headwinds.