Starbucks Corp. (NASDAQ:SBUX) is expected to report Q2 earnings after the market close on Wednesday, April 21 with a conference call scheduled for 5 pm ET.
Analysts are looking for a profit of 24c on revenue of $2.4B. The consensus range is 22c-27c for EPS, and revenue of $2.33B-$2.47B, according to First Call. In January, Starbucks forecast FY10 EPS $1.05-$1.08 vs. First Call consensus of $1.12. During the quarter, Seattle's Best Coffee, part of the Starbucks family of brands, signed an agreement with Burger King (BKC), under which Burger King will offer Seattle's Best in approximately 7,250 restaurants across the U.S. Starbucks also rolled out its Via instant coffee mix in the U.K. and Japan, and said it will launch customized frappuccinos this summer in an effort to increase the number of customers and sales. The coffee retailer authorized the repurchase of 15M shares of stock in addition to 6.3M shares that remain available, and announced its first-ever cash dividend of 10c per share. The Wall Street Journal also considered whether the dividend would be offset by weak earnings growth, and said it would be "wiser" if the company was more conservative with its cash management.