Starbucks Corporation provided earnings guidance for the fourth quarter of 2022. The company now expects its fourth quarter margin and EPS to be lower than third quarter with greater year-over-year pressures primarily due to 3 reasons: The start of mobility recovery in China was later than expected, impacting the pace of recovery previously assumed in fourth quarter; the company's third quarter performance benefited from approximately $0.05 of nonrecurring benefits, including release of a custom duties accrual, tax credits, government subsidies and other items which do not expect to continue in fourth quarter; and fourth quarter will be impacted by a sequential step-up in investments as well as typical seasonality.
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- Starbucks Corporation Provides Earnings Guidance for the Fourth Quarter of 2022