Starbucks Q3 2022 Earnings Report
Key Takeaways
Starbucks reported a 9% increase in consolidated net revenues, reaching a quarterly record of $8.2 billion. Global comparable store sales rose by 3%, with significant growth in the U.S. (9%) and internationally (excluding China). GAAP EPS was $0.79, while non-GAAP EPS reached $0.84, boosted by U.S. performance and global demand outside of China. The U.S. Starbucks Rewards membership increased by 13% to 27.4 million active members.
Global comparable store sales increased by 3%, driven by a 6% rise in average ticket, partially offset by a 3% decline in transactions.
North America comparable store sales increased by 9%, fueled by an 8% increase in average ticket and a 1% increase in transactions.
International comparable store sales decreased by 18%, influenced by a 15% decline in transactions and a 4% decrease in average ticket; China comparable store sales decreased 44%.
The company expanded its global presence by opening 318 net new stores in Q3, reaching a total of 34,948 stores, with 51% company-operated and 49% licensed.
Starbucks
Starbucks
Starbucks Revenue by Segment
Starbucks Revenue by Geographic Location
Forward Guidance
The company's guidance remains suspended for the balance of this fiscal year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income