This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Starbucks Q3 Live Earnings Blog Recap

Live Blog Starbucks Q3 Live Blog

NEW YORK (TheStreet) - Starbucks' (SBUX - Get Report) reported fiscal third-quarter earnings of 67 cents a share, slightly ahead of consensus expectations of 66 cents a share for the three month period. Revenue rose 11.2% to $4.15 billion, also slightly better than analysts' expectations of $4.14 billion. Starbucks' global comparable sales rose 6% in the quarter, "the 18th consecutive quarter of comp growth of 5% or greater," it said. In the Americas, comps rose 6%, with U.S. stores up 7%. Store comps in China/Asia Pacific rose 7% for the quarter, while stores in EMEA rose 3%.

For the third quarter, Starbucks said that its consolidated operating margin expanded 200 basis points to a third-quarter record of 18.5%, which it says was driven by "sale leverage."

The company opened 344 net new stores globally, it said.

Starbucks expects fourth-quarter earnings per share between 76 cents and 78 cents a share (adjusted EPS of 73 cents and 75 cents). Analysts expect fourth-quarter earnings of 74 cents a share.

Starbucks introduced new fiscal 2015 target. It expects revenue growth of 10% or greater; global comparable sales growth in the "mid single digits;" an additional 1,600 net new stores globally; and EPS growth between 15-20% over fiscal 2014.

The coffee company has been expanding in food and "refreshment" beverages with the launch of Fizzio expands its food as well as packaged offerings with its single-serve K-Cups and ground coffee not to mention its expansion into tea through Teavana.

"Starbucks Q3 represents another quarter of outstanding operating performance in which each of our segments contributed to record results," said Howard Schultz, chairman, president and CEO of Starbucks. "The increasing power of the Starbucks brand, the success of our best-in-class mobile, social and digital technologies and our greatest asset - over 300,000 partners who deliver the Starbucks Experience to over 70 million customers around the world each week - position us to continue growing our business around the world and into the future."

Shares were falling 3.2% in after hours trading.

--Written by Laurie Kulikowski in New York.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
SBUX $56.23 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs