Dutch Bros Inc ( BROS ) reported third-quarter financial results after the market close on Wednesday. Here’s a rundown of the report.

Q3 Revenue: $423.58 million, versus estimates of $414.18 million

Q3 Adjusted EPS: 19 cents, versus estimates of 17 cents

Revenue in the third quarter was up 25.2% on a year-over-year basis as same shop sales increased 5.7% year-over-year and systemwide same shop transactions increased 4.7%. The company said it opened 38 new locations in the third quarter.

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“The third quarter marks our fifth consecutive quarter of positive transaction growth, elevating Dutch Bros ( BROS ) to a category of its own. New shop productivity remains elevated, systemwide AUVs are at record highs, and the strong system same shop sales performance through October continues to build the confidence we have in our trajectory of 2,029 shops in 2029,” said Christine Barone, president and CEO of Dutch Bros ( BROS ).

Dutch Bros ( BROS ) had approximately $267.2 million in cash and cash equivalents at quarter’s end.

Outlook: Dutch Bros ( BROS ) raised its full-year revenue guidance from a range of $1.59 billion to $1.60 billion to a new range of $1.61 billion to $1.615 billion. Analysts are forecasting full-year revenue of $1.604 billion, according to Benzinga Pro.

Dutch Bros ( BROS ) guided for shame shop sales growth of approximately 5%. The company said it plans to open 160 total locations this year.

BROS Price Action: Dutch Bros ( BROS ) shares were up 2.14% in after-hours, trading at $56.75 at the time of publication on Wednesday, according to Benzinga Pro.

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