Categories AlphaGraphs, Consumer, Earnings

Starbucks’ shares soar as Q3 results beat estimates

Starbucks (NASDAQ: SBUX) topped market expectations for revenue and earnings in the third quarter of 2019 and raised its full-year guidance, sending the stock soaring 5.6% in aftermarket hours on Thursday.  

Consolidated revenues of $6.8 billion was up 8% from the same period last year, and ahead of estimates of $6.6 billion.

Starbucks beat market estimates for Q3 2019 and raises full-year guidance

On a GAAP basis, net earnings attributable to Starbucks rose 61% year-over-year to $1.3 billion while EPS grew 84% to $1.12. Adjusted EPS grew 26% to $0.78, beating forecasts of $0.72.  

Global comparable store sales increased 6%, driven by a 3% increase in average ticket and a 3% increase in comparable transactions. US comp sales grew 7% while China comp sales rose 6%.  

Net revenues in the Americas segment grew 11% year-over-year to $4.7 billion, mainly driven by 7% growth in comparable store sales and 4% store growth. In the China/Asia Pacific segment, revenues grew 9% to $1.3 billion, helped by 12% store growth, and a 5% increase in comparable store sales.

Net revenues for the EMEA segment fell 11% to $231.7 million due to the conversion of the France and Netherlands retail businesses to fully licensed operations as well as the closure of certain company-operated stores. Revenues in the Channel Development segment dropped 6% to $533.3 million, mainly due to licensing the CPG and foodservice businesses to Nestle.

The company opened 442 net new stores, yielding 30,626 stores at the end of the quarter, a 7% increase from last year. Around one-third of net new store openings were in China and 48% were in other international markets. The company expects to open approx. 2,000 net new Starbucks stores globally during fiscal year 2019.

For fiscal year 2019, Starbucks expects revenue growth of around 7% with global comparable store sales growth of about 4%. The company raised its earnings guidance and now expects GAAP EPS to be $2.86 to $2.88 and adjusted EPS to be $2.80 to $2.82. This compares to the previous outlook ranges for GAAP EPS of $2.40-2.44 and adjusted EPS of $2.75-2.79.

Starbucks declared a cash dividend of $0.36 per share, payable on August 23, 2019, to shareholders of record as of August 8, 2019.

Listen to on-demand earnings calls and hear how management responds to analysts’ questions

Most Popular

INTU Earnings: Intuit Q1 2025 adj. profit rises on higher revenues

Financial technology company Intuit Inc. (NASDAQ: INTU) Thursday announced results for the first quarter of 2025, reporting a modest increase in adjusted earnings. The Mountain View-headquartered company’s first-quarter revenue came

Riding the AI wave, Nvidia looks set to stay on the high-growth path

After delivering strong results for the third quarter, Nvidia Corporation (NASDAQ: NVDA) this week said the launch of its new-generation Blackwell chip is on track. The company is thriving on

Target (TGT): A look at some of the challenges faced by the retailer in 3Q24

Shares of Target Corporation (NYSE: TGT) stayed green on Thursday, recovering from the stumble it took a day ago after delivering disappointing results for the third quarter of 2024 and

Comments

  1. Pingback: fue collaborations
  2. Pingback: Cosmetic dentistry
  3. Pingback: Pharmacognos
  4. Pingback: Marketing program
  5. Pingback: MIS courses
  6. Pingback: Research projects
  7. Pingback: Career Fairs
  8. Pingback: fue
  9. Pingback: Fiverr Earn
  10. Pingback: Fiverr Earn
  11. Pingback: prodentim
  12. Pingback: fiverrearn.com
  13. Pingback: fiverrearn.com
  14. Pingback: french bulldog
  15. Pingback: fiverrearn.com
  16. Pingback: designer dogs
  17. Pingback: jute vs sisal rug
  18. Pingback: seo in Malaysia
  19. Pingback: Yo.fan approval
  20. Pingback: Local Piano Movers
  21. Pingback: blockchain
  22. Pingback: future university
  23. Pingback: future university
  24. Pingback: aries medallion
  25. Pingback: slot online
  26. Pingback: wix marketplace
  27. Pingback: bulldogs puppy
  28. Pingback: six sigma
  29. Pingback: Piano trade-in
  30. Pingback: FUE
  31. Pingback: Interstate moving
  32. Pingback: Reliable movers
  33. Pingback: Classic Books 500
  34. Pingback: FiverrEarn
  35. Pingback: FiverrEarn
  36. Pingback: FiverrEarn
  37. Pingback: partners
  38. Pingback: Political Theory
  39. Pingback: Tips
  40. Pingback: FiverrEarn
  41. Pingback: FiverrEarn
  42. Pingback: live sex cams
  43. Pingback: live sex cams
  44. Pingback: FiverrEarn
  45. Pingback: FiverrEarn
  46. Pingback: FiverrEarn
  47. Pingback: FiverrEarn
  48. Pingback: FiverrEarn
  49. Pingback: serialebi qaerulad
  50. Pingback: web design
  51. Pingback: Kuliah Termurah
  52. Pingback: FiverrEarn
  53. Pingback: FiverrEarn
  54. Pingback: cheap sex cams
  55. Pingback: fullersears.com
  56. Pingback: french bulldog
  57. Pingback: live sex cams
  58. Pingback: rare breed-trigger
  59. Pingback: 늑대닷컴
  60. Pingback: Uang asli
  61. Pingback: nangs near me
  62. Pingback: allgame
  63. Pingback: 918kiss
  64. Pingback: หวย24
  65. Pingback: Kbeauty
  66. Pingback: megagame
  67. Pingback: 6.5 grendel ammo
  68. Pingback: 6.5 prc ammo
  69. Pingback: itsMasum.Com
  70. Pingback: itme.xyz
  71. Pingback: Bulk URL Shortener
  72. Pingback: itme.xyz
  73. Pingback: ItMe.Xyz

Comments are closed.

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top