Starbucks (SBUX) Tops Q2 EPS by 9c, U.S. Comps Rise 9%; Raises Outlook

Starbucks (NASDAQ: SBUX) reported Q2 EPS of $0.62, $0.09 better than the analyst estimate of $0.53. Revenue for the quarter came in at $6.67 billion versus the consensus estimate of $6.82 billion. Q2 Comparable Store Sales Growth of 9% in the U.S.

“I am very pleased with our progress to date in fiscal 2021, as our second quarter results demonstrated impressive momentum in the business with full sales recovery in the U.S. Our strong results validate our ability to adapt to changes in our environment and the needs of our customers,” said Kevin Johnson, president and CEO.

“We have positioned Starbucks for the inevitable great human reconnection that we see unfolding in the U.S. and will propagate in every market around the world, where people once again connect with others face-to-face to heal, to belong, to reflect, to share and to celebrate. Starbucks was built for this moment, and as we celebrate our 50th anniversary, we remain confident in our ability to execute our ‘Growth at Scale’ agenda and unlock the full potential of the Starbucks brand,” concluded Johnson.

GUIDANCE:

Starbucks sees FY2021 EPS of $2.90-$3.00, versus the consensus of $2.85. Starbucks sees FY2021 revenue of $28.5-29.3 billion, versus the consensus of $28.6 billion.

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

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