Starbucks (SBUX) Q4 2022 Earnings

The glamorous art decoration of the Starbucks coffee chain in the Xujiahui district attracts customers’ attention in Shanghai, China, May 12, 2021.

Cost Photo | Barcroft Media | Getty Images

Starbucks is expected to report its fiscal fourth quarter earnings after Thursday’s bell.

Here’s what Wall Street analysts surveyed by Refinitiv expect:

  • earnings per share: 72 cents expected
  • Earnings: Estimated $8.31 billion

The Seattle-based coffee giant raised its long-term forecast in September, predicting earnings per share growth of 15% to 20% annually over the next three years. The optimism comes as Starbucks shuffles its management team and shares an extensive reinvention plan to adapt to changing consumer and employee needs.

Interim CEO Howard Schultz will lead the company until the spring. The incoming CEO, Laxman Narasimhan, will take over in April after he spent six months learning about Starbucks. So far, investors have barely touched Narasimhan. Since his inauguration, Narasimhan has conducted several media interviews and made a brief appearance at the company’s investor day in September.

Despite fears of a recession, Starbucks and Wall Street appear optimistic about consumer willingness to spend on coffee. For the company’s 2023 fiscal year, analysts expect his earnings per share to grow 16% and earnings to grow 11%. Schultz said last quarter that he hadn’t yet seen a shift in consumer behavior.

Starbucks stock has fallen nearly 28% this year, dropping its market cap to $97.11 billion.

https://www.cnbc.com/2022/11/03/starbucks-sbux-q4-2022-earnings.html Starbucks (SBUX) Q4 2022 Earnings

Exit mobile version