Starbucks Corp (SBUX) Tops Q2 EPS by 4c, Comp. Sales Up 3%; Raises FY19 EPS Guidance

(Updated - April 25, 2019 4:42 PM EDT)

Starbucks Corp (NASDAQ: SBUX) reported Q2 EPS of $0.60, $0.04 better than the analyst estimate of $0.56. Revenue for the quarter came in at $6.31 billion versus the consensus estimate of $6.32 billion.

• Q2 Comparable Store Sales Up 3% Globally, Driven by 4% Comp Growth in the U.S. and 3% Comp Growth in China
• Global Net Store Growth of 7% Versus Prior Year, Led by 17% Net Store Growth in China
• Global Retail Business Surpasses 30,000 Stores
• GAAP EPS of $0.53; Non-GAAP EPS of $0.60, Up 13% Year-Over-Year
• Active Starbucks® Rewards Membership in the U.S. Increases 13% Year-Over-Year to 16.8 Million

“Starbucks delivered another quarter of solid operating results, demonstrating that our ‘Growth at Scale’ agenda is working,” said Kevin Johnson, president and ceo. “We are especially pleased with our comparable store sales growth in our two lead markets, the U.S. and China, where we are also continuing to drive strong new store development with industry-leading returns. With solid first-half financial results, we are on track to deliver on our full-year commitments.”

“Starbucks remains focused and disciplined in the execution of our three key strategic priorities: accelerating growth in our targeted markets of the U.S. and China, expanding the global reach of the Starbucks brand through our Global Coffee Alliance with Nestlé, and increasing shareholder returns. With our efforts to streamline the company and elevate the Starbucks brand, we are not only positioning the company to deliver more predictable and sustainable operating results but are also building Starbucks to be an enduring company that creates meaningful value for shareholders for decades to come,” concluded Johnson.

GUIDANCE:

Starbucks Corp sees FY2019 EPS of $2.75-$2.79, versus the consensus of $2.71.

For earnings history and earnings-related data on Starbucks Corp (SBUX) click here.

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