Tuesday July 28, 2020, 00:00:00
By Mark Kalinowski
After today’s market close, Starbucks (SBUX; Buy, $74.64) reported fiscal Q3 (calendar Q2) adjusted EPS of -$0.46 — better than our -$0.63 forecast and sell-side consensus (according to Consensus Metrix) of -$0.62. In its June 10th business update, Starbucks indicated it was then targeting fiscal Q3 adjusted EPS of -$0.55 to -$0.70. Fiscal Q3 EPS coming in better than the high end of the target range relates to better-than-expected June same-store sales (for example, June U.S. same-store sales down by -19%).
Read more
Wednesday June 10, 2020, 00:00:00
By Mark Kalinowski
Earlier today, Starbucks (SBUX; Buy, $82.37) provided a business update as part of an 8-K filing. Given the information in that 8-K, we lower our fiscal Q3E (calendar Q2E) EPS estimate by -53 cents to -$0.63, and we reduce our fiscal Q4E (calendar Q3E) EPS forecast by -12 cents to $0.27. These updates lower our full-fiscal 2020E EPS projection by -65 cents, to $0.75. In addition, given this lower anticipated base of earnings coming off of fiscal 2020E, we take down our fiscal 2021E EPS estimate by -50 cents to $2.25.
Read more
Tuesday April 28, 2020, 00:00:00
By Mark Kalinowski
After today’s (Tuesday’s) market close, Starbucks reported fiscal Q2 (calendar Q1) adjusted EPS of $0.32, matching the $0.32 figure that the company pre-announced on April 8th. We were at $0.32 entering today, with sell-side consensus (according to Consensus Metrix) at $0.31.
Read more
