Dutch Bros raises FY24 revenue view to $1.20B-$1.215B, consensus $1.2B

Guides FY24 : Total system shop openings in 2024 are expected to remain in the range of 150 to 165. Total revenues are now projected to be between $1.20 billion and $1.215 billion up from the prior range of $1.190 billion and $1.205 billion. Same shop sales growth is expected to remain in the low single digits. Adjusted EBITDA3 is now estimated to be between $195 million and $205 million up from the prior range of $185 million to $195 million. Capital Expenditures are estimated to remain between $280 million to $320 million.