Starbucks (SBUX) third quarter 2021 earnings
Kevin Johnson, CEO, Starbucks
Scott Mlyn | CNBC
Starbucks is expected to release its third quarter results after the bell on Tuesday.
Wall Street analysts surveyed by Refinitiv expect the following:
- Earnings per share: 78 cents expected
- Revenue: $ 7.29 billion expected
A year ago, Starbucks had its toughest quarter during the pandemic, losing an estimated $ 3.1 billion in sales worldwide due to lockdowns and temporary cafe closings. However, Wall Street expects a much stronger performance this quarter, with sales up 73% and a move from a loss to a profit.
In the last quarter, the coffee giant’s backward international markets weighed on sales despite the strong performance in its home market. The company reported sales growth in the US that returned to pre-pandemic levels.
For the full year 2021, Starbucks predicts earnings per share of $ 2.65 to $ 2.75 on sales between $ 28.5 and 29.3 billion.
Starbucks stock is up 17% this year, bringing it to a market value of $ 148 billion.