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Starbucks (SBUX) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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Starbucks (SBUX - Free Report) reported $8.56 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 1.8%. EPS of $0.68 for the same period compares to $0.74 a year ago.
The reported revenue represents a surprise of -6.31% over the Zacks Consensus Estimate of $9.14 billion. With the consensus EPS estimate being $0.79, the EPS surprise was -13.92%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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 - North America - Sales Growth: -3% versus 1.6% estimated by nine analysts on average.
Total Stores: 38,951 compared to the 39,173 average estimate based on nine analysts.
Comparable Store Sales - International - Sales Growth: -6% compared to the 0.5% average estimate based on nine analysts.
Comparable store sales - YoY change: -4% versus 1.5% estimated by eight analysts on average.
Total Licensed stores EOP: 18,842 versus the seven-analyst average estimate of 18,982.
Net Revenues- International: $1.76 billion compared to the $1.92 billion average estimate based on five analysts. The reported number represents a change of -5.3% year over year.
Net Revenues- North America: $6.38 billion versus the five-analyst average estimate of $6.73 billion. The reported number represents a year-over-year change of 0%.
Net Revenues- Company-operated stores: $7.05 billion versus the nine-analyst average estimate of $7.56 billion. The reported number represents a year-over-year change of -1.3%.
Net Revenues- Licensed stores: $1.05 billion versus the nine-analyst average estimate of $1.11 billion. The reported number represents a year-over-year change of -1.4%.
Net Revenues- Other: $455.90 million compared to the $484.52 million average estimate based on nine analysts. The reported number represents a change of -10.3% year over year.
Net Revenues- Channel Development: $418.20 million versus the five-analyst average estimate of $456.66 million. The reported number represents a year-over-year change of -13%.
Net Revenues- Corporate & Other: $7.50 million compared to the $4.53 million average estimate based on five analysts. The reported number represents a change of +102.7% year over year.
Shares of Starbucks have returned -3.5% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Starbucks (SBUX) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
Starbucks (SBUX - Free Report) reported $8.56 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 1.8%. EPS of $0.68 for the same period compares to $0.74 a year ago.
The reported revenue represents a surprise of -6.31% over the Zacks Consensus Estimate of $9.14 billion. With the consensus EPS estimate being $0.79, the EPS surprise was -13.92%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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 - North America - Sales Growth: -3% versus 1.6% estimated by nine analysts on average.
- Total Stores: 38,951 compared to the 39,173 average estimate based on nine analysts.
- Comparable Store Sales - International - Sales Growth: -6% compared to the 0.5% average estimate based on nine analysts.
- Comparable store sales - YoY change: -4% versus 1.5% estimated by eight analysts on average.
- Total Licensed stores EOP: 18,842 versus the seven-analyst average estimate of 18,982.
- Net Revenues- International: $1.76 billion compared to the $1.92 billion average estimate based on five analysts. The reported number represents a change of -5.3% year over year.
- Net Revenues- North America: $6.38 billion versus the five-analyst average estimate of $6.73 billion. The reported number represents a year-over-year change of 0%.
- Net Revenues- Company-operated stores: $7.05 billion versus the nine-analyst average estimate of $7.56 billion. The reported number represents a year-over-year change of -1.3%.
- Net Revenues- Licensed stores: $1.05 billion versus the nine-analyst average estimate of $1.11 billion. The reported number represents a year-over-year change of -1.4%.
- Net Revenues- Other: $455.90 million compared to the $484.52 million average estimate based on nine analysts. The reported number represents a change of -10.3% year over year.
- Net Revenues- Channel Development: $418.20 million versus the five-analyst average estimate of $456.66 million. The reported number represents a year-over-year change of -13%.
- Net Revenues- Corporate & Other: $7.50 million compared to the $4.53 million average estimate based on five analysts. The reported number represents a change of +102.7% year over year.
View all Key Company Metrics for Starbucks here>>>Shares of Starbucks have returned -3.5% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.