Why Dutch Bros Stock Collapsed Today
Shares of Dutch Bros (NYSE: BROS) were down 9% as of 1:27 p.m. ET on Wednesday after the company reported results for the first quarter. The fast-growing restaurant chain delivered the revenue growth investors would expect, but Wall Street was looking for stronger performance in same-store sales and earnings.
The post-earnings drop wipes out most of the stock's year-to-date gains. The stock is trading 20% below its initial public offering price.
First, a look at the key numbers. Revenue grew nearly 30% over the year-ago quarter, reaching $197 million. Dutch Bros opened a record number of stores in the quarter, with 45 new shops that padded the top-line growth.
Source Fool.com
