Why Dutch Bros Stock Came Crashing Down Today
Shares of coffee chain Dutch Bros (NYSE: BROS) came crashing down today after the company reported financial results for the fourth quarter of 2022. As of noon ET, Dutch Bros stock was down 14%.
For 2022, Dutch Bros generated revenue of $739 million, which was up 48% year over year. And the company's net loss was only $19.3 million compared to a net loss of $117.8 million in 2021. Take some of the improvement on the bottom line with a grain of salt though. In 2021, Dutch Bros had nonrecurring expenses related to its initial public offering.
Give Dutch Bros some credit -- it exceeded management's guidance for revenue, new store openings, same-store-sales growth, and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA).
Source Fool.com
