Dutch Bros Inc (NYSE:) shares plunged around 30% after-hours following the company reporting , with EPS of ($0.1) coming in worse than the consensus estimate of $0.01. The revenue grew by 54% to $152.2million, which is 54% more than the $145.63 million consensus estimate. The company-operated shops, which opened 107 stores in the twelve month period and 34 during Quarter 1, drove revenue growth.

Joth Ricci (CEO and President Dutch Bros) stated that the company decided to be more conservative regarding its adjusted EBITDA guidance 2022, given the pressured margins resulting from record inflation. However, the company believes these margin impacts are short-term.

Company expects total Q2/22 shop openings of at least 30, almost all company-operated shops, and that same-shop sales growth will remain flat or slightly negative due to macroeconomic headwinds and the impact on consumer discretionary incomes and gas prices.

In 2022, total shop openings are expected to rise to 130 shops (equally 110 company-operated shops) and sales growth for the same period to remain approximately flat.

Dutch Bros shares were down by 33% in the year to date going into these results.

By Davit Kirakosyan