Why Starbucks Stock Turned Bitter on Wednesday [Yahoo! Finance]
Starbucks Corporation (SBUX)
Last starbucks corporation earnings: 4/28 04:05 pm
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US:NASDAQ Investor Relations:
investor.starbucks.com/ir-home/default.aspx
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Source: Yahoo! Finance
As of 1:07 p.m. ET, shares were still down roughly 17.4%. The catalyst that sent the coffee purveyor sharply lower was disappointing quarterly results, which caused the company to slash its full-year guidance. Misreading the market For the company's fiscal 2024 second quarter (ended March 31), Starbucks reported revenue that declined 2% year over year to $8.6 billion. The bad news continued to the bottom line, with adjusted earnings per share (EPS) of $0.68, a decline of 14%. For context, analysts' consensus estimates were calling for revenue of $9.1 billion and EPS of $0.80, so Starbucks missed by a wide margin on both counts. Comparable store sales were dismal, declining 4% year over year, driven by a 6% decline in the number of transactions, partially offset by a 2% increase in average spending per customer. Starbucks cited a number of challenges in the quarter, leaving investors thirsty for more. On the earnings conference call , CEO Laxman Narasimhan said Starbucks had
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SBUX
Earnings
- 4/30/24 - Miss
SBUX
Sec Filings
- 4/30/24 - Form 10-Q
- 4/30/24 - Form 8-K
- 4/24/24 - Form 4
- SBUX's page on the SEC website