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Starbucks (SBUX) Reports Q3 Earnings: What Key Metrics Have to Say
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Starbucks (SBUX - Free Report) reported $9.17 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 12.5%. EPS of $1.00 for the same period compares to $0.84 a year ago.
The reported revenue represents a surprise of -1.31% over the Zacks Consensus Estimate of $9.29 billion. With the consensus EPS estimate being $0.95, the EPS surprise was +5.26%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Starbucks performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Comparable Store Sales - Americas - Sales Growth: 7% versus the 10-analyst average estimate of 8.21%.
Comparable Store Sales - International - Sales Growth: 24% versus 24.48% estimated by nine analysts on average.
Comparable store sales - YoY change: 10% versus the nine-analyst average estimate of 10.83%.
Total stores: 37222 versus the nine-analyst average estimate of 37229.22.
Total Stores - International: 19630 versus 19412.63 estimated by eight analysts on average.
Net Revenues- International: $1.97 billion versus the five-analyst average estimate of $1.98 billion. The reported number represents a year-over-year change of +24.5%.
Net Revenues- Americas- Total: $6.74 billion compared to the $6.82 billion average estimate based on five analysts. The reported number represents a change of +11.2% year over year.
Net Revenues- Company-operated retail: $7.56 billion versus the 10-analyst average estimate of $7.67 billion. The reported number represents a year-over-year change of +13.2%.
Net Revenues- Licensed stores: $1.14 billion versus $1.11 billion estimated by 10 analysts on average. Compared to the year-ago quarter, this number represents a +18.8% change.
Net Revenues- Other: $475.40 million versus $529.43 million estimated by 10 analysts on average. Compared to the year-ago quarter, this number represents a -8.2% change.
Net Revenues- Channel Development- Total: $448.80 million versus $507.55 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -6.4% change.
Net Revenues- Corporate & Other: $8.80 million versus the five-analyst average estimate of $11.62 million. The reported number represents a year-over-year change of -67.8%.
Shares of Starbucks have returned +2.4% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Starbucks (SBUX) Reports Q3 Earnings: What Key Metrics Have to Say
Starbucks (SBUX - Free Report) reported $9.17 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 12.5%. EPS of $1.00 for the same period compares to $0.84 a year ago.
The reported revenue represents a surprise of -1.31% over the Zacks Consensus Estimate of $9.29 billion. With the consensus EPS estimate being $0.95, the EPS surprise was +5.26%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Starbucks performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Comparable Store Sales - Americas - Sales Growth: 7% versus the 10-analyst average estimate of 8.21%.
- Comparable Store Sales - International - Sales Growth: 24% versus 24.48% estimated by nine analysts on average.
- Comparable store sales - YoY change: 10% versus the nine-analyst average estimate of 10.83%.
- Total stores: 37222 versus the nine-analyst average estimate of 37229.22.
- Total Stores - International: 19630 versus 19412.63 estimated by eight analysts on average.
- Net Revenues- International: $1.97 billion versus the five-analyst average estimate of $1.98 billion. The reported number represents a year-over-year change of +24.5%.
- Net Revenues- Americas- Total: $6.74 billion compared to the $6.82 billion average estimate based on five analysts. The reported number represents a change of +11.2% year over year.
- Net Revenues- Company-operated retail: $7.56 billion versus the 10-analyst average estimate of $7.67 billion. The reported number represents a year-over-year change of +13.2%.
- Net Revenues- Licensed stores: $1.14 billion versus $1.11 billion estimated by 10 analysts on average. Compared to the year-ago quarter, this number represents a +18.8% change.
- Net Revenues- Other: $475.40 million versus $529.43 million estimated by 10 analysts on average. Compared to the year-ago quarter, this number represents a -8.2% change.
- Net Revenues- Channel Development- Total: $448.80 million versus $507.55 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -6.4% change.
- Net Revenues- Corporate & Other: $8.80 million versus the five-analyst average estimate of $11.62 million. The reported number represents a year-over-year change of -67.8%.
View all Key Company Metrics for Starbucks here>>>Shares of Starbucks have returned +2.4% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.