SBUX is expected to report Q2 earnings tonight after the close. There is a conference call scheduled for 17:00 (the company typically provides guidance in the press release).

Current Capital IQ consensus calls for EPS of $0.45 (versus $0.39 last year) on revs of $5.42 bln (+8% Y/Y).

  • Last quarter, SBUX reported EPS in-line and missed on revs guidance revs guidance
    • The co also reaffirmed FY 17 EPS guidance of $2.12-2.14, but the co did lower FY 17 revs guidance from double-digit growth to +8-10% growth (this computes to $23-23.45 bln) 
      • Current cap IQ consensus estimates FY 17 EPS of $2.13 on revs of $22.9 bln
    • Mid-single digit comparable store sales growth globally.
  • US comps +3%, comprised of +5% increase in average ticket and a 2% decrease in transactions
  • SBUX has surged 8% to the 62 level since April 13, and ~13% from March 15 lows.
    • Short interest as of April 13 reached a 2 year high, but still is only about 1.4% of the float.


SBUX Breaking out of wedge