RTTNews | Nov 11, 2021 10:26AM EST

10:25 Thursday, November 11, 2021 (RTTNews.com) - Dutch Bros Inc. (BROS) shares are rising on Thursday morning trade after the company reported a 49.8 percent increase in third-quarter revenues. The company said it surpassed 500 operating shops in the third quarter and reiterated the long-term potential of at least 4,000 shops nationwide.

For the fourth quarter, the regional coffee and beverages company expects total revenue in a range of $125-$128 million, same-shop sales are expected to be in the mid-single digits. Analysts are looking for revenue of $121.2 million.

In 2022 total system new shop openings are projected to be at least 112.

Currently, shares are at $67.19, up 7.85 percent from the previous close of $62.30 on a volume of 1,391,655. The shares have traded in a range of $66.31-$72.55 on average volume of 3,436,443.

Read the original article on RTTNews ( https://www.rttnews.com/3241727/is-dutch-bros-aiming-to-unlock-quick-growth.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved