EarningsQ3 2026 Earnings Report
MX:SBUX Q3 2026 EPS Results
Actual EPS$15.65
Consensus EPS$12.15
Beat/MissBeat by +$3.50
One Year Ago EPS$9.21
MX:SBUX Q3 2026 Revenue Results
Actual Revenue$171.56B
Expected Revenue$168.94B
Beat/MissBeat by +$2.61B
YoY Revenue Growth-1.43%
Earnings Announcement Details
QuarterQ3 2026
Date07/29/2026
TimeAfter Close
Conference CallWednesday, July 29, 2026
MX:SBUX Upcoming Earnings
Starbucks's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:SBUX Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed clear operational momentum and recovery: strong comparable sales, meaningful margin expansion, significant EPS improvement, successful operational initiatives (Green Apron Service, uplifts, supply chain gains), loyalty growth, and improved balance sheet metrics. Offsetting items include a reported revenue decline driven by the China JV deconsolidation, lingering coffee cost pressure, modest near-term North America unit growth and targeted store closures, and one-time tariff refund benefits. On balance, positive execution and upgraded guidance outweighed the transitional and near-term headwinds.Company Guidance
Strong Comparable Store Sales Momentum
Global comps grew 7.9% in Q3 (sequential improvement), with North America company-operated comps up 8.1% and U.S. comps up 7.9% (transactions +4.2%, average ticket +3.6%), and international company-operated comps +5.7% (sixth consecutive quarter of positive system-wide comps).
Revenue and Earnings Progress
Consolidated net revenues were $9.3 billion in Q3 and consolidated earnings per share grew ~70% year-over-year to $0.85, reflecting stronger sales leverage and margin recovery.
Margin Expansion
Consolidated operating margin expanded approximately 430 basis points year-over-year to 14.4%, with North America operating margin up ~280 basis points year-over-year, driven by sales leverage, cost savings and lower inflation.
Raised Full-Year Guidance
Management raised FY2026 guidance: Q4 U.S. comp growth expected to be 6.5% or better, full-year U.S. comps a little more than 6%, global comps nearing 6%, consolidated margin guidance increased to greater than 11%, and EPS guidance raised to $2.55–$2.65.
Operational Improvements and Green Apron Service
Green Apron Service adoption strengthened operations: roughly two-thirds of North America company-operated coffee houses are now at 4+ 'shots' (up >5 points QoQ and >40 points since launch), contributing to improved service times and throughput.
Uplift Program Driving Results
North America surpassed 1,000 coffee house uplifts (ahead of plan) with early data showing transaction lift across formats and access points; target increased to at least 1,500 uplifts by fiscal year-end 2026 and acceleration planned for FY2027.
Supply Chain and Availability Gains
Supply chain improvements and expanded daily delivery increased food availability to close to 99% (approximately 10 percentage points better than a year ago), improving consistency and customer experience.
Digital & Loyalty Strength
U.S. 90-day active Starbucks Rewards members grew to 35.8 million four months after the new program launch; digital experiences and menu dayparting (digital menu boards) are supporting afternoon expansion and higher engagement.
Channel Development Growth
Channel Development net revenues increased 22% year-over-year to $587.9 million, aided by product engagement (multi-serve refresher concentrate and sweet cream) and coffee price trends.
Balance Sheet & Cost Discipline
Repurchased debt: used portion of China proceeds to repay approximately $1.8 billion, reducing leverage to ~2.9x; consolidated G&A down ~20% in the quarter and management remains on track with a $2 billion gross cost-savings plan through FY2028.
MX: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