Starbucks Earnings: SBUX Stock Heads 2% Higher on Q4 Earnings

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Starbucks (NASDAQ:SBUX) earnings for the coffee chain’s fiscal fourth quarter of 2019 have SBUX stock up in after-hours trading for Wednesday. This is due to the company’s Non-GAAP EPS of 70 cents and revenue of $6.75 billion. For comparison, Wall Street was looking for 70 cents per share and $6.68 billion.

Starbucks Earnings: SBUX Stock Heads 2% Higher on Q4 Earnings

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Let’s take a more in-depth look at the most recent Starbucks earnings report.

  • Non-GAAP EPS is up 12.90% YoY from 62 cents.
  • SBUX revenue is 7.14% higher than $6.30 billion in the fourth quarter of 2018.
  • The Starbucks earnings report also includes an operating income of $1.08 billion.
  • This is 12.97% better than its operating income of $956.60 million from the same time last year.
  • Net income of $802.90 million is a 6.23% increase from Q4 2018’s $755.80 million.

Kevin Johnson, President and CEO of Starbucks, says this of the SBUX stock earnings.

“Our U.S. business delivered 6% comparable store sales growth in the fourth quarter, while China grew comparable store sales by 5% and total transactions by 13%. Our strong performance throughout fiscal 2019 gives us confidence in a robust operating outlook for fiscal 2020.”

The outlook for fiscal 2020 in the current Starbucks earnings report has Non-GAAP EPS ranging from $3.00 to $3.05. That puts the high end below Wall Street’s estimate of $3.07 for the upcoming fiscal year. SBUX is also expecting revenue growth between 6% and 8% for fiscal 2020.

SBUX stock was up 1.86% in after-hours trading on Wednesday. The stock is also up 30.80% since the start of the year.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/10/starbucks-earnings-send-sbux-stock-up/.

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