Starbucks Corporation (NASDAQ:SBUX) Q2 2024 Earnings Conference Call April 30, 2024 5:00 PM ET
Company Participants
Tiffany Willis - VP of IR
Laxman Narasimhan - CEO
Rachel Ruggeri - EVP and CFO
Brady Brewer - CEO, Starbucks International
Conference Call Participants
Sara Senatore - Bank of America
Brian Harbour - Morgan Stanley
Jeffrey Bernstein - Barclays
David Palmer - Evercore ISI
Sharon Zackfia - William Blair
Peter Saleh - BTIG
Lauren Silberman - Deutsche Bank
John Ivankoe - JPMorgan
Andrew Charles - Cowen & Company
David Tarantino - Baird
Operator
Good afternoon. My name is Diego, and I will be your conference operator today. I would like to welcome everyone to Starbucks Second Quarter Fiscal Year 2024 Conference Call. [Operator Instructions]
I will now turn the call over to Tiffany Willis, Vice President of Investor Relations and ESG Engagement. Ms. Willis, you may begin your conference.
Tiffany Willis
Welcome and good afternoon, and thank you for joining us today to discuss Starbucks' second quarter fiscal year 2024 results. Today's discussion will be led by Laxman Narasimhan, Chief Executive Officer; and Rachel Ruggeri, Executive Vice President and Chief Financial Officer. And for Q&A, we'll be joined by Belinda Wong, Chairwoman and Co-Chief Executive Officer of Starbucks China; Brady Brewer, Chief Executive Officer of Starbucks International; and Michael Conway, Chief Executive Officer of Starbucks North America.
This conference call will include forward-looking statements, which are subject to various risks and uncertainties that could cause our actual results to differ materially from these statements. Any such statements should be considered in conjunction with cautionary statements in our earnings release and risk factors discussed in our filings with the SEC, including our latest annual report on Form 10-K and quarterly report on Form 10-Q. Starbucks assumes no obligation to update any of these forward-looking statements or information.
GAAP results in the second quarter fiscal year 2024 in the comparative period include several items related to strategic actions, including restructuring and impairment charges, transaction and integration costs and other items. These items are included from our non-GAAP results. All numbers referenced on today's call are on a non-GAAP basis unless otherwise noted or there is no non-GAAP adjustment related to the metric. As part of our non-GAAP results, Revenue, operating margin and EPS growth metrics on today's call are measured in constant currency, whereby current period results are converted into United States dollars using the average monthly exchange rates from the comparative period rather than the actual exchange rates for the current period, excluding related hedging activities.