Starbucks Coffee (SBUX) Reports In-Line Q2 EPS, Reaffirms FY EPS Guidance

(Updated - April 23, 2015 4:07 PM EDT)

Starbucks Coffee (NASDAQ: SBUX) reported Q2 EPS of $0.33, in-line with the analyst estimate of $0.33. Revenue for the quarter came in at $4.56 billion versus the consensus estimate of $4.53 billion. Global comparable store sales increased 7%, with a 3% increase in traffic.

“Starbucks record financial and operating performance in Q2 was driven by our people all around the world yet woven together by one common thread - industry leading partner (employee) facing and customer facing innovation,” said Howard Schultz, Starbucks chairman and CEO. “Innovation is the force that will continue to drive our business and enable us to expand and increase revenues and profits - always through the lens of humanity - long into the future,” Schultz added.

“Starbucks Q2 represented another quarter of strong revenue growth and record operating and financial performance all around the world, and despite significant foreign exchange headwinds,” said Scott Maw, Starbucks cfo. “As we enter the second half of 2015 - and look to the future - we are ideally positioned to continue benefiting from the investments we are making in our people, in innovation and in our stores - and to continue delivering world class returns to our shareholders.”

The Company Reaffirms the Following Targets:

• Full year revenue growth of 16% - 18%
• Global comparable store sales growth of mid-single digits
• Consolidated tax rate of approximately 31% on a GAAP basis
• Capital expenditures of approximately $1.4 billion

Non-GAAP Earnings per Share:

• Continue to expect full year EPS in the range of $1.55 to $1.57
• Q3 EPS in the range of $0.40 to $0.41
• Q4 EPS in the range of $0.42 to $0.43

(Street sees FY EPS of $1.57, Q3 EPS of $0.40)

For earnings history and earnings-related data on Starbucks Coffee (SBUX) click here.

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