Starbucks Q3 Earnings: Revenue Miss, EPS In Line, Comps Down 3%, 'Action Plan Is Beginning To Work'
Portfolio Pulse from Adam Eckert
Starbucks Corp (NASDAQ:SBUX) reported Q3 earnings with revenue missing estimates at $9.1 billion, while EPS was in line at 93 cents per share. Comparable store sales declined 3% globally. The company opened 526 new stores and saw a 7% increase in U.S. rewards memberships. Starbucks declared a cash dividend of 57 cents per share.
July 30, 2024 | 8:31 pm
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Starbucks reported Q3 revenue of $9.1 billion, missing estimates, but EPS was in line at 93 cents. Comparable store sales declined 3% globally. The company opened 526 new stores and saw a 7% increase in U.S. rewards memberships. A cash dividend of 57 cents per share was declared.
The revenue miss and decline in comparable store sales are negative indicators, but the in-line EPS, increase in U.S. rewards memberships, and new store openings provide some positive aspects. The declaration of a cash dividend and after-hours price increase suggest a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100