Starbucks (SBUX)
NASDAQ:SBUX
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Earnings Data
Report Date
Aug 04, 2026After Close (Confirmed)
Period Ending
2026 (Q3)Consensus EPS Forecast
0.65Last Year’s EPS
0.5Same Quarter Last Year
Moderate Buy
Based on 30 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized a clear operational turnaround with meaningful top-line growth (revenue +9%, global comps ~6.2%), margin expansion (consolidated margin +110 bps) and EPS improvement (+22% YoY), supported by product innovation, Rewards momentum, delivery and international recovery. Management raised comp and EPS guidance and closed a strategically important China transaction that generated ~$3.1 billion in gross proceeds. Near-term headwinds include North America margin compression, elevated product and distribution costs (tariffs and coffee prices), higher tax rate, and reduced reported revenue due to the China JV structure. On balance, highlights around revenue, comps, operational improvements, rewards growth, and strategic capital actions materially outweigh the lowlights, though management remains cautious about macro uncertainty.Company Guidance
Consolidated Revenue Growth
Consolidated Q2 revenue of $9.5 billion, up ~9% year-over-year, marking top-line growth for the first time in more than two years.
Comparable Sales and U.S./North America Strength
Global comparable store sales grew 6.2% (management referenced ~6%), North America comps accelerated to 7.1% and U.S. comps also grew 7.1%, with transaction growth contributing over 4 percentage points.
Operating Margin and EPS Improvement
Consolidated operating margin improved to 9.4%, up ~110 basis points year-over-year; Q2 EPS was $0.50, up approximately 22% YoY. Company raised fiscal 2026 EPS guidance to $2.25–$2.45.
Raised Comp and EPS Guidance
Management raised fiscal 2026 global comp guidance to 5% or better and increased EPS guidance to a range of $2.25–$2.45, reflecting confidence in sustained momentum.
International Recovery
International net revenues grew ~10% year-over-year (management noted correction from 'nearly 8%' to ~10%); international comparable sales up ~2.6%, and the top 10 international markets (including China) posted positive comps for the first time in nine quarters.
Starbucks China Transaction and Balance Sheet Impact
Closed previously announced China transaction after quarter-end; received approximately $3.1 billion gross cash proceeds and highlighted >$13 billion anticipated total value (NPV of licensing economics). Proceeds used for debt reduction and balance sheet management.
Rewards and Customer Engagement
90-day active Starbucks Rewards membership reached a record 35.6 million, up ~4% YoY; the new 60-star redemption accounted for ~1/3 of redemptions and early signs of increased frequency (more customers visiting 4+ times/week).
Channel and Product Momentum
Channel Development net revenues grew ~39% YoY, multi-serve refreshers concentrate is the largest recent CPG launch in over a decade, and Cold Foam platform sales were up more than 40% in Q2 across U.S. company-operated stores.
Operational Improvements and Store Uplifts
Operational initiatives (Green Apron Service, Grow scorecard) drove improved store performance: ~80% of stores hitting service metrics, ~300 store uplifts complete on budget with 0 closure days, and plans for >1,000 uplifts in top 20 markets by year-end.
Unit Growth Plans
Company expects approximately 600–650 net new coffeehouses in fiscal 2026: 450–500 international (China still ~half) and 150–175 net new U.S. company-operated stores.
Margin Recovery in International Segment
International operating margin expanded ~790 basis points to 20.3% year-over-year (partly driven by held-for-sale accounting effects), signaling meaningful recovery in the segment.
Cost-Savings and G&A Progress
Company remains on track with a $2 billion gross cost savings plan (through FY2028); consolidated G&A dollars decreased 5.5% in Q2 and are expected to run below FY2023 levels.
SBUX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SBUX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 28, 2026 | $97.28 | $105.50 | +8.45% |
Jan 28, 2026 | $95.11 | $94.55 | -0.58% |
Oct 29, 2025 | $83.03 | $82.02 | -1.21% |
Jul 29, 2025 | $91.10 | $90.90 | -0.22% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Starbucks (SBUX) report earnings?
Starbucks (SBUX) is schdueled to report earning on Aug 04, 2026, After Close (Confirmed).
What is Starbucks (SBUX) earnings time?
Starbucks (SBUX) earnings time is at Aug 04, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SBUX EPS forecast?
SBUX EPS forecast for the fiscal quarter 2026 (Q3) is 0.65.
