Starbucks is expected to report its fiscal second-quarter earnings after the bell on Tuesday.
Here’s what Wall Street analysts surveyed by Refinitiv are expecting:
- Earnings per share: 53 cents expected
- Revenue: $6.82 billion expected
Analysts are forecasting that the coffee giant’s sales will rise more than 13% compared with the same time a year ago, when the company first started seeing the impact of the coronavirus pandemic on its business. Cafes in China closed for several months, cutting same-store sales in half during the year-ago quarter. By March 2020, Starbucks’ U.S. business faltered as the company temporarily closed locations.
A year later, the company is seeing signs of recovery. Starbucks’ same-store sales in China turned positive last quarter. In the United States, the company is forecasting same-store sales growth of 5% to 10% for the fiscal second quarter. Its same-store sales shrank 3% in the year-ago period. Starbucks is also expecting to earn 36 cents to 41 cents per share for the quarter, or 45 cents to 50 cents on an adjusted basis.
The coffee chain is also expected to release a comprehensive update on its fiscal year outlook along with its fiscal second-quarter results. In late January, Starbucks said it was expecting earnings per share between $2.42 and $2.62 and global same-store sales growth of 18% to 23%.
Shares of Starbucks have risen 8% so far in 2021, giving it a market value of $136 billion.