The earnings call reflected a mix of positive strides, particularly internationally and in operational improvements, along with challenges in the U.S. market with declining sales and margins. The strategic investments are seen as laying the groundwork for future growth, despite current financial setbacks.

Company Guidance -

Q4 2025

During Starbucks' Third Quarter Fiscal Year 2025 conference call, the company outlined strategic initiatives and performance metrics as it continues its turnaround efforts. Starbucks reported total company net revenue of $9.5 billion, with a global comparable store sales decline of 2% and a global operating margin of 10.1%. Earnings per share were $0.50. In North America, the U.S. saw a 2% decline in comparable sales, while Canada experienced positive sales growth. Internationally, China achieved 2% comparable sales growth and 6% transaction growth. Key initiatives include the rollout of the Green Apron Service model, which has shown promise in pilot tests, improving transactions and service times. The company is also focusing on a comprehensive evaluation of its coffeehouse portfolio, introducing new store prototypes, and driving innovation in 2026 with a robust menu pipeline. Starbucks highlighted the importance of enhancing their rewards program, which currently boasts nearly 34 million active members. The company's strategic investments, such as the Leadership Experience 2025, and operational improvements are expected to yield healthier margins and stronger financial performance over time.

Record International Revenue

The International segment achieved more than $2 billion in quarterly revenue for the first time ever, with China delivering 2% comparable sales growth and a 6% increase in transactions.

Positive Engagement and Operational Improvements

Retail partner engagement scores and coffeehouse leader engagement are nearing historic highs, with hourly partner turnover at 49.1% and shift completion at a record 98.2%.

Launch of Green Apron Service

Introduction of the Green Apron Service across U.S. stores, aimed at improving customer service and operational standards, has shown positive early results in pilot stores.

Strong Performance in Canada and Delivery Business

Canada led North America with positive comparable sales, and the delivery business showed over 25% year-over-year transaction growth.

Starbucks (SBUX) Earnings, Revenues Date & History

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SBUX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 30, 2025	2025 (Q4)	0.59 / -	0.8	―	―	―
Jul 29, 2025	2025 (Q3)	0.65 / 0.50	0.93	-46.24% (-0.43)
Apr 29, 2025	2025 (Q2)	0.49 / 0.41	0.68	-39.71% (-0.27)
Jan 28, 2025	2025 (Q1)	0.67 / 0.69	0.9	-23.33% (-0.21)
Oct 30, 2024	2024 (Q4)	0.87 / 0.80	1.06	-24.53% (-0.26)
Jul 30, 2024	2024 (Q3)	0.94 / 0.93	1	-7.00% (-0.07)
Apr 30, 2024	2024 (Q2)	0.80 / 0.68	0.74	-8.11% (-0.06)
Jan 30, 2024	2024 (Q1)	0.93 / 0.90	0.75	20.00% (+0.15)
Nov 02, 2023	2023 (Q4)	0.97 / 1.06	0.81	30.86% (+0.25)
Aug 01, 2023	2023 (Q3)	0.95 / 1.00	0.84	19.05% (+0.16)

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
Jul 29, 2025	$92.96	$92.76	-0.22%
Apr 29, 2025	$84.26	$79.49	-5.66%
Jan 28, 2025	$99.17	$107.24	+8.14%
Oct 30, 2024	$95.53	$95.90	+0.39%

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.