logo
Plus   Neg
Share
Email

Starbucks Raises 2019 Earnings Guidance; Q2 Profit Beats Estimates

Starbucks Corp. (SBUX) announced, with solid first-half financial results, the company is on track to deliver on its full-year commitments. For fiscal 2019, non-GAAP EPS is projected in the range of $2.75 to $2.79, revised from a range of $2.68 to $2.73 previously. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.71 for the fiscal year. Analysts' estimates typically exclude special items. The company continues to expect global comparable store sales growth between 3% and 4%.

For second-quarter, non-GAAP EPS was $0.60, up 13% over the prior year, including a $0.01 benefit from discrete income tax items. On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $0.56 for the quarter.

Second-quarter consolidated net revenues were $6.3 billion, grew 5% over the prior year. On an adjusted basis, consolidated net revenues grew 9%. Analysts expected revenue of $6.32 billion for the quarter. Global comparable store sales increased 3%, driven by a 3% increase in average ticket, for the second quarter.

Kevin Johnson, CEO, said: "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."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Microsoft Corp. (MSFT) founder Bill Gates has admitted that his greatest mistake was allowing Google's android to become a dominant mobile operating system. Speaking at a Economic Club of Washington luncheon, Gates said to David Rubinstein on Monday, "We're in the field of doing operating systems... McDonald's said Monday that the introduction of fresh beef at its restaurants just over one year ago has helped it gain market share in the informal eating out or IEO category for the first time in five years. In May 2018, the burger chain switched to fresh beef quarter-pound burgers from frozen beef across the U.S., as part of its efforts to provide customers with a "hotter, juicer burger." 'Toy Story 4' has broken global office box records for an animated movie, according to media reports. The movie is the fourth instalment in the 'Toy Story' series and is the sequel to 2010's 'Toy Story 3.' The Disney and Pixar film has reportedly earned $238 million after opening worldwide over the weekend and performed particularly well in Latin America and Europe.
Follow RTT