Dutch Bros surges with 25% revenue growth as Coca-Cola preps CEO handover
Two major beverage companies have reported contrasting updates this quarter. Dutch Bros continues its rapid growth, with store numbers and profits rising sharply. Meanwhile, Coca-Cola has announced a leadership change while maintaining steady sales and record stock performance.
Dutch Bros has expanded aggressively in recent years. The company now operates in 24 states, including a recent push into Florida. Its store count has doubled over the past five years, and it plans to double it again by 2029.
In Q3 2025, the chain reported a 14% increase in locations compared to the previous year. Revenues climbed by 25%, while net income surged 38%. The company has also consistently outperformed analysts' revenue and earnings forecasts every quarter.
The brand went public in September 2021, raising $484 million by selling 21 million shares at $23 each. Shares opened at $32.50 on the first day, valuing the company at around $5 billion. The IPO proceeds helped clear $192 million in long-term debt and funded further expansion. However, its stock has since fallen 34% from its February 2025 peak.
At Coca-Cola, CEO James Quincey will step down in March 2026. Henrique Braun, the current COO, will take over the role. The company has kept sales volumes stable across most products and regions, with growth driven mainly by price increases.
Coca-Cola's water brands and sugar-free options, like Coca-Cola Zero Sugar, have seen higher shipping volumes. The company's stock has risen 17.8% over the past year, hitting an all-time high.
Dutch Bros is pushing ahead with expansion plans, despite its stock decline. The company's revenue and profit growth remain strong, and its store count is set to grow further. Coca-Cola, on the other hand, is preparing for a leadership transition while maintaining steady financial performance and record share prices.
