Starbucks Raises Earnings Guidance - Quick Facts

(RTTNews) - Starbucks Corp. (SBUX) said it delivered strong operating performance in the third quarter, further demonstrating that the company's 'Growth at Scale' agenda is working. The company increased its full-year financial outlook.

For fiscal 2019, the company now expects non-GAAP EPS in the range of $2.80 to $2.82 (previously $2.75 to $2.79). Global comparable store sales growth are expected to be approximately 4% (previously 3% to 4%). Analysts polled by Thomson Reuters expect the company to report profit per share of $2.79. Analysts' estimates typically exclude special items.

For the third-quarter, non-GAAP EPS was $0.78, up 26% over the prior year, inclusive of a $0.03 benefit from discrete income tax items. On average, 28 analysts expected the company to report profit per share of $0.72, for the quarter.

Third-quarter consolidated net revenues were $6.8 billion grew 8% over the prior year. Global comparable store sales increased 6%, driven by a 3% increase in average ticket and a 3% increase in comparable transactions. Analysts expected revenue of $6.67 billion for the quarter.