Dutch Bros Inc., which is headquartered in Oregon but is moving a large chunk of its corporate employees into a new Tempe office, announced better-than-expected results Wednesday in its third quarter earnings report.CEO Christine Barone told the Phoenix Business Journal Nov. 6 that Dutch Bros’ success is due in part to its real estate strategy.“We’re doing some behind the scenes work on our real estate strategy – really bringing a lot of data and analytics to how we do market planning and think through the sites that we’re going to open,” Barone said.She noted that the company has invested into its development and construction teams and that its 2025 pipeline is strong, positioning it to accelerate new shop growth.Earlier this year, Dutch Bros signed a full-building lease at Liberty Center at Rio Salado – a business park in Tempe – and will occupy 136,426 square feet at 1930 W. Rio Salado Pkwy, in the same building that was once the headquarters of Tempe-based online car retailer Carvana Co.For the third quarter, Dutch Bros (NYSE: BROS) reported $338.2 million in revenue, up 27.9% from $264.5 million in the same period of 2023. Dutch Bros also reported net income of $21.7 million, as compared to $13.4 million in the year-earlier period.The results were announced after the market closed on Wednesday; Dutch Bros’ stock price percolated nicely on the news, shooting up by more than 23% in pre-market trading Thursday morning to more than $43 per share.Dutch Bros’ CEO: Arizona an ‘awesome’ marketOne thing driving revenue was the success of new stores in new markets, Barone said.“[We are] going a little bit wider before we go deeper to make sure that we introduce ourselves really well to a community and allow them to get used to us if we’re adding new shops into …
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