Huge News for Dutch Bros Stock
Restaurant and food stocks have struggled mightily in 2024. Dutch Bros (NYSE: BROS) has bucked this trend. The coffee shop and drink chain's stock is up 43% in the past month after posting huge growth in the third quarter. Investors are betting big on this West Coast consumer favorite and its expansion plans across the rest of the United States.
Dutch Bros is coming for the coffee competition and proved yet again with these recent earnings results that it is a force to be reckoned with in the food and drink sector. Let's take a closer look at these third-quarter earnings and see whether Dutch Bros stock is a buy today.
In Q3 of 2024, Dutch Bros revenue grew 27.9% year over year to $338 million. This was driven by a combination of 2.7% comparable store sales growth and 28 new shop openings in the quarter. The company now has 912 shops across the United States, with the majority on the West Coast.
Source Fool.com
