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00:02Dutch Brothers shares plunged more than 19% in extended trading Wednesday
00:07after the coffee chain issued disappointing guidance,
00:10even as third quarter earnings and revenue topped expectations, according to Benzinga.
00:15The company reported earnings of $0.25 per share, beating estimates of $0.24.
00:21Revenue rose nearly 30% to $549.8 million, slightly above expectations.
00:28Dutch Brothers opened 48 new shops during the quarter.
00:32Company-operated same-shop sales increased 5.4%, while customer visits rose 1%.
00:39CEO Christine Barone said the company continues to gain market share
00:43and recorded its 14th consecutive quarter of positive same-shop sales
00:47and 9th consecutive quarter of same-shop customer visit growth.
00:51The company narrowed its full-year revenue outlook to $2.1 billion,
00:55below analysts' expectations of $2.13 billion.
01:00Shares fell 19.29% to $35.35 in after-hours trading on Wednesday.
01:07For all things money, visit Benzinga.com.
