Starbucks is expected to report its fiscal third-quarter earnings after the bell Tuesday.
Here’s what Wall Street analysts surveyed by Refinitiv are expecting:
- Earnings per share: 78 cents expected
- Revenue: $7.29 billion expected
A year ago, Starbucks faced its toughest quarter during the pandemic, losing an estimated $3.1 billion in sales due to lockdowns and temporary cafe closures worldwide. But Wall Street is expecting a much stronger performance this quarter, with revenue surging 73% and a swing from a loss to earnings.
Last quarter, the coffee giant’s lagging international markets weighed on its revenue, despite strong performance in its home market. The company reported U.S. same-store sales growth that returned to pre-pandemic levels.
For all of 2021, Starbucks is forecasting earnings per share of $2.65 to $2.75 on revenue within a range of $28.5 billion to $29.3 billion.
Shares of Starbucks have risen 17% this year, giving it a market value of $148 billion.