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News Breaks
February 7, 2013
08:51 EDTGMCRGreen Mountain household penetration has peaked, says Stifel Nicolaus
After Green Mountain reported higher than expected Q1 EPS but provided weaker than expected Q2 sales guidance, Stifel believes that the company's long-term commentary is overly bullish. The firm estimates that fair value for the company is in the low $30s and maintains a Sell rating.
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April 23, 2014
12:38 EDTGMCREarnings Preview: Starbucks sees FY14 EPS growth 18%-22%, revenue growth of 10%
Starbucks (SBUX) is scheduled to report second quarter results after the market close on Thursday, April 24, with a conference call scheduled for 5:00 pm ET. Starbucks purchases and roasts whole bean coffees and sells them, along with brewed coffees, Italian-style espresso beverages, cold blended beverages, food items, teas, and beverage-related accessories and equipment, primarily through company-operated retail stores. EXPECTATIONS: Analysts are looking for earnings per share of 56c on revenue of $3.95B, according to First Call. The consensus range for EPS is 54c-60c on revenue of $3.91B-$4.05B. LAST QUARTER: Starbucks reported first quarter EPS of 71c against estimates for 69c on revenue of $4.2B against estimates for $4.29B. Starbucks said global comparable store sales increased 5%, driven by a 4% increase in traffic. Looking ahead, the company forecast Q2 EPS 54c-55c, third quarter EPS 64c-66c, fourth quarter EPS 70c-75c and fiscal year 2014 EPS $2.59-$2.67 against estimates of $2.66. Starbucks sees FY14 revenue growth of 10% or greater against estimates for $16.57B and sees FY14 global comparable store sales growth in the mid single digits. NEWS: In its Q1 earnings report, Starbucks forecast consolidated operating margin improvement of approximately 150-200 basis points in FY13 over the previous fiscal year. The company said it planned to add approximately 1,500 net new stores in 2014. During the quarter, Starbucks said that Chief Executive Officer Howard Schultz would focus on innovations in coffee and tea, as well as various technology and loyalty initiatives, while the day-to-operations of the company would be overseen by Troy Alstead, who was promoted to a newly created Chief Operating Officer role from the Chief Financial Officer role. Starbucks senior VP of Corporate Finance, Scott Maw, was promoted to executive VP and Chief Financial Officer. The company recently forecast FY14 EPS growth of 18%-22% on revenue growth of 10%. The company is targeting 15%-20% long-term EPS growth. At the company's annual meeting of shareholders, Schultz said he believes Starbucks is "at least" a $100B market capitalization company and that the company is in the "early innings of growth." Alstead said China and Asia Pacific is the company's fastest-growing region. During the quarter, Starbucks amended its agreement with Keurig Green Mountain (GMCR) and partnered with Oprah Winfrey for tea. Globes reported that Starbucks is in advanced talks to buy a 10% stake in SodaStream (SODA) at a company value of $1.1B. STREET RESEARCH: Buckingham views the deal with Keurig Green Mountain as a "positive event," as it provides Starbucks an opportunity for better margins. Piper Jaffray sees "virtually no risk" to Starbucks from higher coffee prices as the company is locked through the first quarter of 2015. Morgan Stanley said weakness in Starbucks due to concerns of decelerating comps and higher coffee prices is overdone. Oppenheimer believes that the recent increases in coffee prices are "manageable" for Starbucks, but have "put a major strain" on its ability to outperform 2015 expectations. PRICE ACTION: Over the last three months, Starbucks shares are down over 3.5%. Year-to-date, shares are down almost 10%
11:51 EDTGMCRDr Pepper Snapple says 'pleased' with Keurig Green Mountain deal
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April 22, 2014
14:28 EDTGMCRSunEdison, Conn's rally after Greenlight discloses new stakes
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April 17, 2014
15:53 EDTGMCRLuigi Lavazza S.p.A confirms 8% stake in Keurig Green Mountain
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April 16, 2014
10:49 EDTGMCRSodaStream rallies following report of talks to sell stake to American company
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April 15, 2014
10:07 EDTGMCRCoca-Cola sees 'significant' currency headwinds for the remainder of this year
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