Starbucks' Q3 Earnings Preview: Will Reopening Momentum Last?

Motley Fool 2021-07-26

Key Points The delta variant might slow reopening momentum for many companies, including Starbucks. Starbucks' stock is up by double-digit percentages in the last month. Starbucks' investors might be...

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Comments

Stevenlow
2021-07-27
Stevenlow
Like pls
- K20:
  liked
Kencom
2021-07-27
Kencom
Starbucks is not spared from this pandemic. Quarter earning will take a hit but eventually will pick up once returns to normalcy.
HENRYCSC
2021-07-27
HENRYCSC
Awesome ?
- JackTL:
  go go
NgKenny
2021-07-27
NgKenny
Good
AllisGood
2021-07-27
AllisGood
Good
lauracky
2021-07-27
lauracky
Gd
- Melvin888:
  Steady coffee

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Slowly, it has been recovering lost ground as economies are going through stages of reopening.\nThe company will report third-quarter earnings on Tuesday, July 27, and investors expect a continuation of that reopening momentum. But emerging trends -- mainly the surge in coronavirus infections caused by the delta variant -- could derail the recovery.\nIMAGE SOURCE: GETTY IMAGES.\nThe delta variant risks slowing down reopening momentum\nStarbucks has 20,261 locations in the U.S. and China, which represent 62% of its locations worldwide. The two countries are also furthest along in vaccinating their populations. As of this writing, China has administered over 1.54 billion doses, and the U.S. has administered 342 million -- enough to fully vaccinate 55% and 53.4% of their populations, respectively.\nThe higher vaccination rates are allowing for faster reopening of economies in the two markets. In its most recent quarter, Starbucks reported U.S. sales eclipsed levels from before the pandemic. Meanwhile, sales in China were 90% recovered. Therefore, a resurgence in COVID-19 cases caused by the delta variant is less likely to cause economic lockdowns in those two countries.\nEven if a renewal of lockdowns is far less likely, the resurgence in cases could slow down reopening. Millions of students are expected to return to campus in the fall semester. And businesses are preparing to bring back employees to offices at least part-time in the second half of the year. The increase in infections could delay both.\nWhat this could mean for investors\nAnalysts on Wall Street expect Starbucks to report revenue of $7.24 billion and earnings per share of $0.77 in its third quarter. If it meets those expectations, it would lift year-to-date revenue to $20.64 billion after the company reported revenue of $6.7 billion each in the first and second quarter.\nInterestingly, management has informed investors to expect overall revenue in the range of $28.5 billion to $29.3 billion for fiscal 2021. And considering that historically, Starbucks generates more revenue in the final quarter of the year compared to the first three, it would be on pace for reaching the yearly target.\nStill, management might provide an update on the fourth quarter. The delta variant is at least slowing the pace of economic reopenings. For instance, several major corporations have delayed a return to offices, and some countries have extended or instituted travel restrictions. Those developments could have hampered Starbucks' expectations for the fourth quarter.\nThe stock price is up 16.9% in 2021 and 11.5% in the last month alone. It does not appear that investors are pricing in any possibility of negative news coming out of Starbucks' earnings report. That raises the potential for a sharper sell-off if there is one.Investors looking to start a position in the company are better served waiting until after the earnings release to buy. That way, it will remove some of the downside risks of bad news coming out of the earnings report.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":809472807,"gmtCreate":1627390894309,"gmtModify":1703488967675,"author":{"id":"3567674050552530","authorId":"3567674050552530","name":"Stevenlow","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3567674050552530","idStr":"3567674050552530"},"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/809472807","repostId":1177576068,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5347084,"gmtCreate":1627391751586,"gmtModify":1663231574427,"authorId":3583284147557843,"author":{"id":3583284147557843,"idStr":"3583284147557843","authorId":3583284147557843,"name":"K20","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-2","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"Executive Tiger","description":"The transaction amount of the securities account reaches $300,000","bigImgUrl":"https://static.tigerbbs.com/9d20b23f1b6335407f882bc5c2ad12c0","smallImgUrl":"https://static.tigerbbs.com/ada3b4533518ace8404a3f6dd192bd29","grayImgUrl":"https://static.tigerbbs.com/177f283ba21d1c077054dac07f88f3bd","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.07.14","exceedPercentage":"80.21%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1101},"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":809472807,"type":1,"supId":0,"prevId":0,"content":"liked","text":"liked","html":"liked"}],"langContent":"EN"},{"id":809447805,"gmtCreate":1627390407307,"gmtModify":1703488956468,"author":{"id":"4088748055325860","authorId":"4088748055325860","name":"Kencom","avatar":"https://community-static.tradeup.com/news/bcaa9548fb78e0409a2827c590935dab","vip":1,"crmLevel":7,"crmLevelSwitch":1,"authorIdStr":"4088748055325860","idStr":"4088748055325860"},"htmlText":"Starbucks is not spared from this pandemic. Quarter earning will take a hit but eventually will pick up once returns to normalcy.&nbsp;","listText":"Starbucks is not spared from this pandemic. Quarter earning will take a hit but eventually will pick up once returns to normalcy.&nbsp;","text":"Starbucks is not spared from this pandemic. Quarter earning will take a hit but eventually will pick up once returns to normalcy.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/809447805","repostId":1177576068,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":809445999,"gmtCreate":1627390230411,"gmtModify":1703488953307,"author":{"id":"3575091428590185","authorId":"3575091428590185","name":"HENRYCSC","avatar":"https://static.tigerbbs.com/6d47a6dec25b21dc547a5b982674c499","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3575091428590185","idStr":"3575091428590185"},"htmlText":"Awesome ?&nbsp;","listText":"Awesome ?&nbsp;","text":"Awesome 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