02:11 PM EDT, 08/08/2024 (MT Newswires) -- (Updates with latest stock movement in headline and first paragraph.)

Dutch Bros ( BROS ) shares fell 22% in recent trading Thursday, a day after reporting Q2 results.

The company reported adjusted net income late Wednesday of $0.19, up from $0.13 a year earlier.

Analysts polled by Capital IQ expected EPS of $0.13.

Revenue for the quarter ended June 30 was $324.9 million, up from $249.9 million a year earlier. Analysts surveyed by Capital IQ expected $317.4 million.

The company said it now expects full year 2024 revenue of between $1.22 billion and $1.23 billion, up from the prior guidance of $1.20 billion and $1.22 billion. Analysts in a Capital IQ poll expect $1.23 billion.

Price: 29.41, Change: -8.29, Percent Change: -21.99