The earnings call reflects a mixed performance, with strong international growth and successful operational initiatives being offset by declines in U.S. comparable sales and earnings per share. Operational improvements and strategic investments show promise, but current financial metrics indicate challenges remain.

Company Guidance -

Q4 2025

In the third quarter of fiscal year 2025, Starbucks reported total company net revenue of $9.5 billion, marking a 3% increase from the previous year. However, the global comparable store sales saw a decline of 2%, and the global operating margin stood at 10.1%. Earnings per share were reported at $0.50. North America experienced mixed results, with Canada showing positive comparable sales, while the U.S. saw a 2% decline. Internationally, China achieved 2% comparable sales growth and 6% transaction growth, contributing to a record-breaking quarterly revenue for the International segment, which surpassed $2 billion for the first time. Starbucks emphasized significant strategic investments in their "Back to Starbucks" strategy, including the Green Apron Service model and Leadership Experience 2025, to drive future growth and enhance operational foundations. The company also highlighted a 4% growth in global net new store openings and improvements in customer and partner engagement metrics, with hourly partner turnover at 49.1% and shift completion at 98.2%.

Record-Breaking International Revenue

Starbucks International business posted more than $2 billion in quarterly revenue for the first time ever, driven by strength in markets like China, the UK, and Mexico.

Successful Operational Initiatives

The rollout of the Green Apron Service model and SmartQ technology has driven improvements in transactions, sales, and customer service times, with peak transaction comps growing and all-day transaction comps outperforming the broader North American portfolio.

Strong Customer and Partner Engagement

Retail partner engagement scores are up, nearing historic highs, and customer connection scores have improved, with customer complaints down both quarter-over-quarter and year-over-year.

China Market Recovery

China delivered 2% comparable sales growth and 6% transaction growth, driven by successful product innovation and expanded customer base in the afternoon and evening sales.

Mobile and Delivery Growth

Year-over-year transaction growth of more than 25% in delivery business and positive nondiscounted transactions among nearly 34 million 90-day active rewards members.

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	$92.35	$92.15	-0.22%
Apr 29, 2025	$83.70	$78.97	-5.65%
Jan 28, 2025	$98.52	$106.54	+8.14%
Oct 30, 2024	$94.90	$95.27	+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.