Starbucks: further raises FY EPS target range
(CercleFinance.com) - Starbucks announced on Tuesday night that it is raising its 2020-21 guidance again, now targeting adjusted EPS of 3.
20 to 3.25 dollars (up from 2.90 to 3.00 dollars previously), with revenue of 29.1 to 29.3 billion dollars (up from 28.5 to 29.3 billion dollars previously).
The coffee chain earned adjusted EPS of 1.01 dollars for Q3 2020-21, compared with a loss of 46 cents per share a year ago, with an adjusted operating margin of 20.5%, compared with -12.6% in the same period of 2019-20.
Revenue rose by 78% to 7.5 billion dollars, up 73% LFL, reflecting the favourable comparison basis due to the Covid-19 pandemic, as well as the strength seen in the US this year.
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