Q2 Earnings Highlights: Starbucks and Chipotle Raise Guidance, Qualcomm Faces Memory Cost Pressure

실적/어닝스 | Thu Jul 30 2026 00:00:00 GMT+0000 (Coordinated Universal Time) | 14 sources

Starbucks, Ford, and Chipotle posted strong results with raised guidance, while Qualcomm and P&G contended with cost pressures and weak demand.

Analysis

[Starbucks] raised FY2026 guidance and posted fourth consecutive quarter of same-store sales growth ^[7][5][13]

• Same-store sales up 7.9%
• Adjusted EPS of $0.85 beat consensus of $0.65
• FY2026 EPS outlook raised to $2.55-$2.65
• Targeting remodels of over 1
• 500 North American stores

[Chipotle Mexican Grill] raised annual same-store sales guidance and surprised on earnings despite cyclospora concerns ^[12][1]

• Adjusted EPS of $0.33 beat estimate of $0.32
• Revenue of $3.35 billion
• up 9.3% year-over-year
• Same-store sales guidance raised to low single-digit growth
• Cyclospora impacted late July sales by approximately 2 percentage points

[Qualcomm] reported weak results due to surging memory costs and announced broad price increases ^{[10][3][2][4]}

• Adjusted EPS of $2.21 missed estimate of $2.23
• Revenue of $9.95 billion beat expectations
• Price increases across all products starting September 1
• FY2029 non-smartphone revenue target of $40 billion

[Ford Motor] delivered earnings surprise and raised 2026 guidance ^[9][11]

• Adjusted EBIT upper range raised by $500 million to up to $10.5 billion
• Additional $1 billion in adjusted free cash flow expected
• Maintained $1 billion materials and warranty cost reduction target
• Analyst upgrades from Citigroup and others

[Coca-Cola] hit all-time high and received analyst price target upgrades on strong Q2 results ^[8]

• Unit volume up 5% year-over-year
• Morgan Stanley raised price target from $89 to $100
• JPMorgan and Wells Fargo also raised price targets
• Reflects World Cup and heatwave effects

[Procter & Gamble] missed revenue expectations with stagnant portfolio volumes ^[14]

• Revenue of $21.2 billion missed estimate of $21.38 billion
• Adjusted EPS of $1.43 beat estimate of $1.41
• Overall portfolio volume flat
• Beauty up 3%
• Healthcare volume down 3%
• the weakest segment

[Biogen] surprised on Q2 revenue and earnings and raised sales guidance ^[6]

• Revenue of $2.7 billion
• up 3% year-over-year
• Adjusted EPS of $3.60 beat estimate of $3.17
• Growth portfolio revenue of $1.06 billion
• up 24%
• Annual revenue outlook shifted from decline to mid-single-digit growth

Sources

• [1] Chipotle lifts its sales forecast even as a lettuce-linked outbreak slows foot traffic - MarketWatch Top Stories
• [2] Qualcomm’s stock falls as memory woes weigh on earnings - MarketWatch Top Stories
• [3] Qualcomm posts shrinking sales and profits as chip costs hurt smartphone market - Financial Times
• [4] Qualcomm outlines $40B non-handset revenue target by fiscal 2029 while raising automotive exit run rate to $7B - Seeking Alpha Market News
• [5] Starbucks raises FY2026 EPS outlook to $2.55-$2.65 while targeting at least 1,500 North America coffee house uplifts by year-end - Seeking Alpha Market News
• [6] Why Biogen Stock Topped the Market Today - The Motley Fool
• [7] Starbucks Raises Its Full-Year Guidance as Comparable Store Sales Jump 7.9%. Here’s What Investors Need to Know. - The Motley Fool
• [8] Why Coca-Cola Stock Was so Fizzy Today - The Motley Fool
• [9] Stock Market Today, July 29: Ford Beats Earnings, Raises 2026 Guidance on Production Strength - The Motley Fool
• [10] Qualcomm to raise prices during memory crunch as chipmaker issues light earnings guidance - CNBC World Markets
• [11] Citigroup upgrades Ford after better-than-expected earnings - CNBC Investing
• [12] Chipotle hikes same-store sales forecast, says cyclospora fears hit sales in late July - CNBC Earnings
• [13] Starbucks stock jumps as coffee giant raises full-year outlook - CNBC Earnings
• [14] Procter & Gamble revenue misses estimates as volume stays unchanged - CNBC Earnings