Starbucks expects fiscal year 2020 adjusted EPS growth to be negatively impacted by one-time tax benefits in fiscal year 2019. The company also pulled forward its FY20 expected share repurchases into FY19.
Starbucks expects earnings for fiscal year 2019 to range
from $2.80-2.82 per share. The company also stated that its long-term double-digit
EPS growth model is intact.
Analysts have forecast EPS of $3.12 for fiscal year 2020, which
represents a 10.6% increase over the estimated fiscal year 2019 EPS of $2.82.
Starbucks had topped revenue and earnings estimates for the third
quarter of 2019 triggering a stock rally at the time. Revenues rose 8% to $6.8
billion while adjusted EPS jumped 26% to $0.78.
Starbucks’ shares have gained over 49% so far this year and 24% in the past three months.