Live: Will Micron Crush Q3 Earnings Tonight After Tuesday’s 13% Selloff?
Q3 26 EPS
$N/A
Q3 26 Revenue
N/A
vs S&P Since Q3 26
+2.6%
BEATING MARKET
SBUX +5.6% vs S&P +3.0%
Market Reaction
Did SBUX Beat Earnings? Q3 2026 Results
Starbucks delivered a convincing second-quarter beat for fiscal 2026, with CEO Brian Niccol declaring the results mark "the turn in our turnaround" as the company's Back to Starbucks initiative translated into tangible financial gains. The coffee gia… Read more Starbucks delivered a convincing second-quarter beat for fiscal 2026, with CEO Brian Niccol declaring the results mark "the turn in our turnaround" as the company's Back to Starbucks initiative translated into tangible financial gains. The coffee giant posted adjusted earnings of $0.50 per share, ahead of the $0.44 consensus estimate by 13.64%, while revenue climbed 8.8% year-over-year to $9.53 billion, beating analyst expectations of $9.23 billion by 3.31%. The clearest driver behind the improvement was a 6.2% rise in global comparable store sales, fueled by a 3.8% increase in transactions and a 2.3% lift in average ticket, a meaningful reversal from declines posted in the year-ago period. North American comps led the way with a 7.1% gain on 4.4% transaction growth, reflecting improved staffing and service execution at store level. Encouraged by the momentum, management raised its full-year outlook, now projecting global comparable store sales growth of at least 5% and non-GAAP EPS in the range of $2.25 to $2.45, even as the pending China joint venture transition tempers near-term revenue expectations.
Key Takeaways
- • Global comparable store sales increased 6.2%, driven by 3.8% transaction growth and 2.3% average ticket increase
- • North America comparable store sales increased 7.1%, driven by 4.4% transaction growth
- • Channel Development revenue surged 39% driven by Global Coffee Alliance growth
- • International operating margin expanded to 19.4% from 11.6% due to cessation of China depreciation after assets held-for-sale classification
- • Sales leverage and lower depreciation and amortization costs improved consolidated GAAP operating margin by 180 basis points
SBUX Forward Guidance & Outlook
Starbucks raised its FY2026 guidance: global and U.S. comparable store sales growth of 5.0% or greater; consolidated net revenues roughly flat year-over-year (reflecting the China JV transition to a licensee structure in H2); non-GAAP consolidated operating margin to slightly improve year-over-year; non-GAAP EPS of $2.25 to $2.45; and approximately 600 to 650 net new coffeehouses globally. GAAP diluted EPS is projected at $1.73 to $1.93. Guidance reflects Starbucks China retail operations reported as a company-operated business in H1 FY2026 and as a joint venture licensee in H2 FY2026.
SBUX YoY Financials
Q3 2026 vs Q3 2025, source: SEC Filings
SBUX Revenue by Segment
With YoY comparisons, source: SEC Filings
SBUX Revenue by Geography
With YoY comparisons, source: SEC Filings
“Our second quarter marked the turn in our turnaround as our Back to Starbucks plan drove both top and bottom line growth.”
— Brian Niccol, Q3 2026 Earnings Press Release
SBUX Earnings Trends
SBUX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
SBUX EPS Trend
Earnings per share: estimate vs actual
SBUX Revenue Trend
Quarterly revenue: estimate vs actual
SBUX Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 | — | — | — | — | — |
| Q2 26 BEAT | $0.44 | $0.50 | +13.64% | $9.53B | +3.31% |
| Q1 26 MISS | $0.59 | $0.56 | -4.58% | $9.92B | +2.68% |
| Q4 25 MISS FY | $0.55 | $0.52 | -5.97% | $9.57B | +2.32% |
| FY Full Year | $2.16 | $2.13 | -1.24% | $37.18B | +0.58% |
| Q3 25 MISS | $0.65 | $0.50 | -22.56% | $9.46B | +1.58% |
| Q2 25 MISS | $0.48 | $0.41 | -15.24% | $8.76B | -0.82% |