Starbucks (NASDAQ:SBUX) earnings for the coffee company’s fiscal first quarter of 2020 have SBUX stock down on after-hours Tuesday. That comes after reporting adjusted per-share earnings of 79 cents on revenue of $7.10 billion. These are mixed results compared to Wall Street’s estimates of 76 cents per share and revenue of $7.11 billion.
Now for a more in-depth look at the most recent Starbucks earnings report.
- Adjusted EPS for the quarter comes in 5.33% higher than 75 cents from the same time last year.
- Revenue for the quarter is sitting 7.09% above $6.63 billion in revenue from fiscal Q1 2019.
- Operating income of $1.22 billion is a 19.61% increase YoY from $1.02 billion.
- The Starbucks earnings report also includes a net income of $885.70 million.
- That’s a 16.45% improvement over the company’s net income of $760.60 million from the same period of the year prior.
Kevin Johnson, President and CEO of Starbucks, has this to say about the SBUX stock earnings report.
“Building on solid business momentum from fiscal 2019, Starbucks performed very well throughout the first quarter, including one of the strongest holiday seasons in the history of our company. As a result, we are off to a strong start in fiscal 2020.”
The Starbucks earnings report notes that the company isn’t making any changes to its guidance from Q4 2019. That includes adjusted earnings per share of $3.00 to $3.05. This has the midpoint below Wall Street’s estimate of $3.05 for the year.
SBUX stock was down slightly after-hours Tuesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
