Dutch Bros Inc. (NYSE:BROS) Q2 2023 Earnings Conference Call August 8, 2023 5:00 PM ET

Company Participants

Paddy Warren - Director, Investor Relations and Corporate Development

Joth Ricci - Chief Executive Officer

Christine Barone - President

Charley Jemley - Chief Financial Officer

Conference Call Participants

Chris O'Cull - Stifel

Sharon Zackfia - William Blair

Andrew Charles - Cowen and Company

Sara Senatore - Bank of America

Jeffrey Bernstein - Barclays

David Tarantino - Robert W. Baird

Jeff Farmer - Gordon Haskett

Andy Barish - Jefferies

Brian Mullan - Piper Sandler

Nick Setyan - Wedbush Securities

Gregory Francfort - Guggenheim Securities

Operator

Thank you for standing by, and welcome to the Dutch Bros Inc. Second Quarter 2023 Earnings Conference Call and Webcast. This conference call and webcast are being recorded today, Tuesday, August 08, 2023 at 5:00 PM Eastern and will be available for replay shortly after it has concluded. Following the company's presentation, we will open up the line for questions and instructions to queue up will be provided at that time.

I will now turn the call over to Paddy.

Paddy Warren

Good afternoon, and welcome. I'm joined by Joth Ricci, CEO; Christine Barone, President; and Charley Jemley, CFO.

We issued our earnings press release for the quarter ended June 30, 2023, after the market closed today. The earnings press release along with the supplemental investor deck, have now also been uploaded to our Investor Relations website at investors.dutchbros.com.

Please be aware that all statements in our prepared remarks and in responses to your questions, other than those of historical fact are forward-looking statements and are subject to risks, uncertainties and assumptions that may cause actual results to differ materially. They are qualified by the cautionary statements in our earnings press release and the risk factors in our latest SEC filings, including our most recent annual report on Form 10-K and our quarterly report on Form 10-Q. We assume no obligation to update any forward-looking statements.

We will also reference non-GAAP financial measures on today's call. As a reminder, non-GAAP financial measures are neither substitute for nor superior to measures that are prepared under GAAP. Please review the reconciliation of non-GAAP measures to comparable GAAP results in our earnings press release.

With that, I would now like to turn the call over to Joth.

Joth Ricci

Thank you, Paddy. Good afternoon, everyone. Q2 results demonstrate continued momentum in the business. This is the result of a team's collective ability to take the vision of a long-term growth plan and adapt to a changing environment. Our ability to deliver on new unit growth targets quarter after quarter remains a consistent bright spot.