Starbucks (SBUX) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

May 05, 2026

After Close (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

0.31

Last Year’s EPS

0.32

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 25 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:Jan 28, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveyed clear top-line momentum and operational improvements—global revenue +5%, comps +4%, strong international performance (+10% revenue; China comps +7%), record Rewards engagement, and several scalable service and technology initiatives—indicating the turnaround is taking hold. However, meaningful near-term margin pressure and earnings headwinds were highlighted: consolidated operating margin down 180 bps (North America down ~420 bps), Q1 EPS down 19%, product/tariff inflation, and transitional accounting impacts from the China JV introduce P&L variability. Management expects margins and earnings to improve in the back half of FY26 (guidance: global comps ≥3%, net new stores ~600–650, EPS guide $2.15–$2.40) as investments anniversary, inflation abates, and cost actions take hold. Overall the positives around sustainable revenue and transaction recovery, international strength, and strategic initiatives outweighed the near-term margin and EPS challenges, with the company positioning for improvement later in the year.

Company Guidance

Starbucks guided fiscal 2026 to at least 3% global comparable store sales growth (3%+ in the U.S.), consolidated net revenues to grow roughly in line with comp growth, and slightly higher consolidated operating margins year‑over‑year with improvement weighted to the back half of the year (Q2 typically the lowest‑margin quarter); they expect consolidated G&A dollars to run below FY2023 and see coffee and tariff pressures peaking in Q2 and easing in H2. The company plans about 600–650 net new coffeehouses (150–175 U.S. company‑operated, a slight decrease in North America licensed, and 450–500 international with China comprising close to half), and provided EPS guidance of $2.15–$2.40 (noting a China joint venture would likely modestly lower consolidated revenues/comps but could be ~40 basis points accretive to consolidated margins on an annualized basis and the transaction is expected to be ~$0.02–$0.03 dilutive to EPS); they also expect the China JV (Boyu up to 60% / Starbucks retaining 40%) to close in the spring and noted assets held for sale reduced monthly expenses by about $39 million.

Revenue Growth and Comparable Sales Acceleration

Global revenue grew 5% year-over-year to $9.9 billion in Q1 FY26, with global comparable store sales accelerating to 4% growth.

North America and U.S. Transaction Momentum

North America revenue grew 3% to $7.3 billion; U.S. company-operated comp sales were up 4% with transactions up 3% and average ticket +1%. This was the first quarter in eight where U.S. company-operated transaction comps grew year-over-year.

Record Starbucks Rewards Engagement

Ninety-day active Starbucks Rewards members reached a record 35.5 million (up 3% year-over-year); Rewards transactions grew year-over-year for the first time in eight quarters and both rewards and non-rewards transactions grew (first time since 2022).

International Strength, led by China

International revenue grew 10% to $2.1 billion; comps grew in nine of the 10 largest international markets. China comps accelerated to +7% (third consecutive quarter of comp growth), with transactions improving about 5%.

Channel Development and Ready-to-Drink Momentum

Channel Development net revenues increased 19% year-over-year, led by higher revenue from the Global Coffee Alliance and ready-to-drink (RTD) business; launch of multi-serve refreshers concentrate drove strong demand.

Net New Stores and Global Development

Company reported 128 net new coffee houses globally in Q1 (North America +49 net new to 18,360; international opened 79 net new coffee houses). India surpassed 500 coffee houses and Mexico is on track to surpass 1,000 this year.

Operational Improvements and Service Initiatives

Green Apron service standard and operational changes drove better customer experience: 650 pilot stores are outperforming the fleet by ~200 basis points in comp; peak cafe and drive-through service times were below the four-minute targets; ~200 café uplifts completed and >1,000 planned by end of 2026.

Cost and Organizational Actions

Consolidated G&A decreased 7% in Q1 as earlier streamlining actions begin to materialize; company identified a ~$2 billion cost-reduction program to be executed over the next couple of years.

Starbucks (CH:SBUX) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CH:SBUX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 05, 2026	2026 (Q2)	0.31 / -	0.317	―	―	―
Jan 28, 2026	2026 (Q1)	0.45 / 0.43	0.533	-18.84% (-0.10)
Oct 29, 2025	2025 (Q4)	0.43 / 0.40	0.618	-35.00% (-0.22)
Jul 29, 2025	2025 (Q3)	0.50 / 0.39	0.719	-46.24% (-0.33)
Apr 29, 2025	2025 (Q2)	0.38 / 0.32	0.525	-39.71% (-0.21)
Jan 28, 2025	2025 (Q1)	0.52 / 0.53	0.695	-23.33% (-0.16)
Oct 30, 2024	2024 (Q4)	0.67 / 0.62	0.819	-24.53% (-0.20)
Jul 30, 2024	2024 (Q3)	0.72 / 0.72	0.773	-7.00% (-0.05)
Apr 30, 2024	2024 (Q2)	0.62 / 0.53	0.572	-8.11% (-0.05)
Jan 30, 2024	2024 (Q1)	0.72 / 0.70	0.579	20.00% (+0.12)

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

CH:SBUX Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 28, 2026	CHF84.00	CHF84.00	0.00%
Oct 29, 2025	CHF84.00	CHF84.00	0.00%
Jul 29, 2025	CHF84.00	CHF84.00	0.00%
Apr 29, 2025	CHF84.00	CHF84.00	0.00%

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.