Starbucks Corporation · SBUX · FY2026 Q4 · Calendar Q4 2026

Starbucks posts resilient comps and sets FY27 margin targets

Starbucks' current results support a constructive operating trajectory: comparable-sales momentum and margin expansion continued, while the FY27 outlook depends on executing store, technology, and international initiatives.

Reported After market closeNASDAQConsumer Cyclical $120.28B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $0.80 Consensus $0.72
EPS surprise +11.3% Reported versus consensus
Reported revenue $9.14B Consensus $9.22B
Revenue surprise -0.9% Reported versus consensus

Market reaction

event-close to next-session close
Stock move -1.7% Event window
SPY move -1.8% Same window
Abnormal move +0.0% Stock minus SPY
Volume 1.5× Versus trailing sessions
Subsequent drift 0.0% Up to 20 sessions
SBUXSPY benchmark

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Transcript intelligence

What changed

Compared with the prior quarter, management moved from raised FY26 guidance to maintained FY27 targets, while highlighting a fifth consecutive quarter of comparable-sales growth, three consecutive quarters of margin expansion, and a larger store-uplift program.

Guidance delta

Guidance sentiment was maintained. FY27 targets are 4% same-store sales growth, EPS of $3.15-$3.25, and operating margin of 13.5%-14%.

Key takeaways

  • Global comparable sales grew 7.2% despite a 3.9% year-over-year revenue decline tied in part to the China licensed-joint-venture transition.
  • Operating margin expanded 450 basis points to about 14%, while Q4 EPS rose 54% year over year to $0.80.
  • Management plans continued store uplifts, technology upgrades, AI-enabled drive-thru tools, and international licensed expansion.

Management priorities

  • Execute the Back to Starbucks plan through Green Apron Service, partner coaching, and more than 2,000 store uplifts in FY27.
  • Roll out staffing, scheduling, POS, app, and AI-enabled drive-thru technology.
  • Expand smaller-format stores, menu innovation, and licensed international operations.

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Earnings History

Estimate Beat Miss Match
SBUX EPS earnings history estimate and actual scatter chart 8 reported fiscal quarters and 4 future estimate-only quarters. Q1 '24 estimate $0.93 Q1 '24 actual $0.90, miss Q2 '24 estimate $0.79 Q2 '24 actual $0.68, miss Q3 '24 estimate $0.93 Q3 '24 actual $0.93, match Q4 '24 estimate $1.03 Q4 '24 actual $0.80, miss Q3 '25 estimate $0.65 Q3 '25 actual $0.50, miss Q4 '25 estimate $0.56 Q4 '25 actual $0.52, miss Q1 '26 estimate $0.59 Q1 '26 actual $0.56, miss Q2 '26 estimate $0.43 Q2 '26 actual $0.50, beat Q3 '26 estimate $0.65 Q4 '26 estimate $0.71 Q1 '27 estimate $0.76 Q2 '27 estimate $0.63

Analyst Consensus ?

ConsensusHold57 ratings
Bullish2849.1%
Neutral2645.6%
Bearish35.3%

1 unmapped firm rating excluded from the percentages.

Analyst 52W Price Targets

$103.67Current
$70Low
$108.05Average
$165High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 31, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Mizuho Neutral NeutralMaintainOct 23, 2026
Wells Fargo Overweight OverweightMaintainOct 21, 2026
Citigroup Neutral NeutralMaintainOct 20, 2026
DA Davidson Neutral NeutralMaintainOct 9, 2026
UBS Neutral NeutralMaintainOct 8, 2026
Show 53 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $103.67. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Mizuho SecuritiesAnalyst unavailable$105$101.91 +1.3%Oct 23, 2026
NeedhamAnalyst unavailable$120$108.02 +15.8%Aug 18, 2026
Melius ResearchAnalyst unavailable$110$105.16 +6.1%Aug 3, 2026
D.A. DavidsonMatt Curtis$110$107.62 +6.1%Jul 30, 2026
Deutsche BankLauren Silberman$126$105.75 +21.5%Jul 30, 2026
See 129 more

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Company context

Snapshot as of publication

Starbucks Corporation, along with its various subsidiaries, operates worldwide as a key player in roasting, marketing, and selling specialty coffee. Its business is structured into three main operating divisions: North America, International markets, and Channel Development. The company's retail outlets offer a broad assortment of coffee and tea beverages, roasted whole bean and ground coffees, single-serve options, and ready-to-drink products. Customers can also find a variety of food items, including pastries, breakfast sandwiches, and lunch selections.…

Historical context

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Consumer Cyclical peers this season

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Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-10-30T14:13:09.251789+00:00
  2. FN2 earnings calendar · 2026-10-30T01:23:13.979536+00:00
  3. Polygon adjusted daily market bars · 2026-10-30T23:00:41.672150+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-30T23:00:41.664498+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-30. For educational purposes only; not investment advice.