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Oct 01, 2023
Starbucks Q4 2023 Earnings Report
Starbucks' Q4 2023 earnings were reported, showcasing record revenue and strong global performance.
Key Takeaways
Starbucks reported strong Q4 2023 results, with consolidated net revenues up 11% to a record $9.4 billion. Global comparable store sales increased by 8%, driven by growth in both North America and International segments. GAAP EPS and non-GAAP EPS both reached $1.06, reflecting a significant year-over-year increase. The company opened 816 net new stores, bringing the global count to 38,038.
Global comparable store sales increased by 8%, with North America up 8% and International up 5%.
Consolidated net revenues reached a record $9.4 billion, an 11% increase year-over-year.
GAAP and Non-GAAP earnings per share both grew to $1.06, driven by strong global performance and reinvention execution.
Starbucks Rewards loyalty program in the U.S. saw active members increase to 32.6 million, a 14% rise year-over-year.
Starbucks
Starbucks
Starbucks Revenue by Segment
Starbucks Revenue by Geographic Location
Revenue by Segment
Company-operated Revenue
CapyFin.comLicensed stores Revenue
CapyFin.comOther Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comInternational Revenue
CapyFin.comChannel Dev. Revenue
CapyFin.comCorporate/Other Revenue
CapyFin.com Forward Guidance
Starbucks provided financial targets for fiscal year 2024, focusing on balancing revenue growth and margin expansion amidst macroeconomic uncertainty. The company's Reinvention plan is expected to continue driving positive impacts on partner and customer experiences.
Positive Outlook
- Sustained momentum expected throughout the company for years to come.
- Full fiscal year 2024 guidance will be grounded on a balance of both revenue growth and margin expansion.
- Reinvention is moving ahead of schedule, fueling revenue growth, efficiency and margin expansion.
- Positive impact of Reinvention on partner and customer experiences.
- Durable long-term growth and Reinvention plan execution.
Challenges Ahead
- Macro uncertainty in the current year.
- Potential negative effects of incidents involving food or beverage-borne illnesses, tampering, adulteration or mislabeling.
- Potential negative effects of a material breach, failure, or corruption of our information technology systems or those of our direct and indirect business partners, suppliers or third-party providers, or failure to comply with personal data protection laws.
- The impact of foreign currency translation, particularly a stronger U.S. dollar
- Unfavorable global or regional economic conditions and related economic slowdowns or recessions, low consumer confidence, high unemployment, weak credit or capital markets, budget deficits, burdensome government debt, austerity measures, higher interest rates, higher taxes, political instability, higher inflation, or deflation
Revenue & Expenses
Visualization of income flow from segment revenue to net income