SBUX (Post-Call) Fiscal Q1 U.S. Same-Store Sales +$% an Encouraging Sign
By Mark Kalinowski
Published on January 24, 2019 at 12:00 AM
After today’s market close, Starbucks (SBUX; Neutral) reported adjusted fiscal Q1 2019 (calendar Q4 2018) EPS of $0.75, exceeding our $0.66 forecast and sell-side consensus (as measured by Consensus Metrix) of $0.65. Starbucks notes that this $0.75 figure “included a $0.07 benefit from discrete income tax items,” suggesting the EPS beat excluding these tax items was $0.02 versus our forecast and $0.03 versus consensus.