Shares of Dutch Bros (BROS 8.09%) were buzzing and popping on Thursday. The coffee chain, famous for its friendly service and drive-thru focus, posted a fresh first-quarter report on Wednesday evening. The results came in well above the analyst community's projections, driving Dutch Bros' stock as much as 10% higher in the morning session. By 12:20 p.m. ET, it had cooled down slightly to an 8.2% overnight gain.

Q1 by the numbers

The average Wall Street analyst had expected adjusted first-quarter earnings of roughly $0.11 per share, based on top-line revenue in the neighborhood of $343.6 million. Dutch Bros' actual earnings landed at $0.14 per share, up from $0.09 per share in the year-ago report. Revenues rose 29% to $355.2 million.

Management held their full-year guidance targets steady, but noted that many metrics are trending above the midpoint of earlier expectations. In particular, Dutch Bros could see surprisingly strong 2025 results in the categories of total revenues, same-store sales growth, and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA).

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Dutch Bros' recipe for thriving in a tough market

CFO Josh Guenser admitted that the macroeconomic situation is unpredictable these days. But the company's exposure to tariff expenses is "limited," with most of the coffee beans it buys coming from low-tariff countries like Brazil, El Salvador, and Colombia. And Dutch Bros has secured its supplies for the rest of 2025 with preorders.

"We have a strong runway ahead and are well positioned to continue producing healthy financial results in this dynamic macro environment," Guenser said on the earnings call.

So Dutch Bros is still an inspiring growth story, despite macroeconomic pressure and rising ingredient prices. The stock trades 27% below February's all-time record price at 166 times trailing earnings. Dedicated growth investors can swallow the lofty valuation and invest in Dutch Bros' seemingly unstoppable growth.