- 39/short, 62/bear eng,
** charts before earnings **
** charts after earnings **
Starbucks beats by $0.10, beats on revs; guides FY19 EPS above consensus
- Reports Q1 (Dec) earnings of $0.75 per share, $0.10 better than the S&P Capital IQ Consensus of $0.65; revenues rose 9.2% year/year to $6.63 bln vs the $6.49 bln S&P Capital IQ Consensus. Global comps +4% vs 3% estimates.
- Americas and U.S. comparable store sales increased 4%, with transactions flat
- CAP comparable store sales increased 3%, including 1% transaction growth; China comparable store sales increased 1%, with transactions down 2%
- Non-GAAP operating margin of 17.4% declined 180 basis points compared to the prior year
- Co issues upside guidance for FY19, sees EPS of $2.68-2.73, excluding non-recurring items, vs. $2.65 S&P Capital IQ Consensus. Previous guidance was for adj. EPS of $2.61-2.66
- Global comparable store sales growth between 3% and 4% vs previous guidance of 3-5%
- reaffirms expectation for Consolidated GAAP revenue growth of 5% to 7%
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