TEMPE, Ariz. (AP) — TEMPE, Ariz. (AP) — Dutch Bros Inc. (BROS) on Wednesday reported third-quarter earnings of $27.2 million.

On a per-share basis, the Tempe, Arizona-based company said it had net income of 20 cents. Earnings, adjusted for one-time gains and costs, were 25 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.

The drive-thru coffee chain operator and franchisor posted revenue of $549.8 million in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $549 million.

Dutch Bros expects full-year revenue of $2.1 billion.

Dutch Bros shares have declined 28% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $43.99, a drop of 20% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BROS at https://www.zacks.com/ap/BROS