SBUX will report Q4 earnings tonight after the close. There is a conference call scheduled for 17:00.

Current Capital IQ consensus calls for Q4 adj EPS of $0.70 (versus $0.62 last year) on revs of $6.69 bln (+6% yr/yr).

Last quarter, SBUX beat estimates, and guided Q4 above consensus

  • Global comparable store sales increased 6%, driven by a 3% increase in average ticket and a 3% increase in comparable transactions.

TECHS:

SBUX has a $100 bln market cap and trades at a forward P/E of 29x vs competitor DNKN (24x).

Starbucks reports EPS in-line, revs in-line; guides FY20 EPS below consensus, revs in-line

Reports Q4 (Sep) earnings of $0.70 per share, excluding non-recurring items, in-line with the S&P Capital IQ Consensus of $0.70; revenues rose 7.0% year/year to $6.75 bln vs the $6.68 bln S&P Capital IQ Consensus.

  • Global comparable store sales up 5%, driven by a 3% increase in average ticket and a 2% increase in comparable transactions

  • Americas and U.S. comparable store sales up 6%, both driven by a 3% increase in average ticket and a 3% increase in comparable transactions

  • International comparable store sales up 3%, driven by a 3% increase in average ticket and a 1% increase in transactions; China comparable store sales increased 5%, with comparable transactions up 2%

  • Non-GAAP operating margin of 17.2% declined 90 basis points compared to the prior year. Excluding a 30-basis point unfavorable impact from Streamline-driven activities, non-GAAP operating margin declined by approximately 60 basis points compared to the prior year

  • Co issues guidance for FY20, sees EPS of $3.00-3.05, excluding non-recurring items, vs. $3.08 S&P Capital IQ Consensus; sees FY20 revs growth of 6-8% (implying $2.81-2.86 bln) vs. $28.44 bln S&P Capital IQ Consensus. Global comparable store sales growth of 3% to 4%

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