Dutch Bros Q2 revenue up 34% to $250M; raises FY EBITDA guidance; CEO succession

Dutch Bros Inc.

2023-Q2 EPS reported -$0.02 revenue$447,146,000

Q2 revenue $249.9M (+34% YoY); net income $9.7M vs $(1.8M) loss; adj. EBITDA $48.6M (+103%).
System same-shop sales +3.8%; company-operated +1.6%; opened 38 new shops in Q2.
Raised FY 2023 adj. EBITDA guidance to $135-140M (from ≥$125M); rev. at lower end of $950M-$1B.
Christine Barone to become CEO on Jan 1, 2024; current CEO Joth Ricci to step down after transitional period.
Amended credit facility increased from $500M to $650M; maturity extended to Feb 2027.

item 1.01 item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Christine Barone

Chief Executive Officer and President

BROS · Dutch Bros Inc.

Effective: 2024-01-01
Filed: August 8, 2023, 7:59 PM ET

the Board plans to appoint Christine Barone, President of the Company, to the role of Chief Executive Officer and President

Departed

Joth Ricci

Chief Executive Officer

BROS · Dutch Bros Inc.

Effective: 2024-01-01
Successor: Christine Barone
Filed: August 8, 2023, 7:59 PM ET

Joth Ricci’s planned January 2024 departure from his current role of Chief Executive Officer of the Company.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Dutch Bros Inc. reported the second quarter ended June 30, 2023 results: revenue $249.9 million, net income $9.7 million, EPS $0.05. Guidance reaffirmed.

Period: the second quarter ended June 30, 2023
Revenue: $249.9 million
Net income: $9.7 million
EPS: $0.05
Guidance: reaffirmed
Result: reported results

Exact text from the filing

--- EX-99.1 (EX-99.1) --- Dutch Bros Inc. Reports Second Quarter 2023 Financial Results Opened 38 New Systemwide Shops in Q2 2023 Quarterly Revenue Increased 34% to $250 million Announces Leadership Transition Updates 2023 Guidance GRANTS PASS, Ore. - August 8, 2023 - Dutch Bros Inc. (NYSE: BROS; “Dutch Bros” or the “Company”) one of the fastest-growing

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Christine Barone was appointed as Chief Executive Officer and President at Dutch Bros Inc..

Action: appointed
Role: Chief Executive Officer and President

Exact text from the filing

the Board plans to appoint Christine Barone, President of the Company, to the role of Chief Executive Officer and President

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Joth Ricci departed as Chief Executive Officer at Dutch Bros Inc..

Action: departed
Role: Chief Executive Officer

Exact text from the filing

Joth Ricci’s planned January 2024 departure from his current role of Chief Executive Officer of the Company.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Dutch Bros Inc. amended Amended 2022 Credit Facility with JPMorgan Chase Bank, N.A. as administrative agent and other financial institutions as the lenders party thereto valued at up to $650 million (effective 2023-08-04).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A. as administrative agent and other financial institutions as the lenders party thereto
Value: up to $650 million
Effective: 2023-08-04

Exact text from the filing

On August 4, 2023, certain Dutch Bros Inc. (the Company) subsidiaries (the Loan Parties) entered into an amendment to the existing $500 million senior secured credit facility, dated February 28, 2022, with JPMorgan Chase Bank, N.A. as administrative agent and other financial institutions as the lenders party thereto (as amended, the Amended 2022 Credit Facility).

View on SEC.gov

41 earnings releases filed in the last 30 days. Browse all earnings releases →

Dutch Bros Inc. filing history →

Source: SEC EDGAR

accession 0001866581-23-000108

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.