Starbucks Corporation · SBUX · Next earnings

Starbucks Corporation reports Wednesday, Oct 28, 2026

SBUX reports before market open with consensus EPS at $0.71 and revenue at $9.22B. Last quarter: Starbucks Returns to Simultaneous Revenue and EPS Growth in Q2 FY2026

Reports Before market open38 days awayDate estimated Consumer Cyclical

What the street expects

Consensus for the coming report
Consensus EPS $0.71 Calendar consensus
Consensus revenue $9.22B Calendar consensus
Report date Oct 28, 2026 Wednesday, date estimated
Session Before market open 38 days away

Where SBUX left off: FY2026 Q2

Full report

Starbucks Returns to Simultaneous Revenue and EPS Growth in Q2 FY2026

EPS surprise +17.6% Reported $0.50 vs $0.43
Revenue surprise +4.0% Reported $9.53B vs $9.17B
Stock move +8.4% Event window
Subsequent drift -4.5% Up to 20 sessions

Management raised FY2026 guidance. Global comparable store sales target moved to 5% or higher, up from 3%+. EPS range lifted to $2.25 to $2.45, up from $2.15 to $2.40. The $2 billion multi-year cost-savings program remains on track with focus on product, distribution, OpEx, and G&A.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Coffee bean price volatility and ongoing tariff impacts on product costs could pressure margins.
  • Macro-economic uncertainty, including gas prices and inflation, could dampen consumer spending.
  • Execution risk around the China JV transition and maintaining licensee performance standards.
  • Sustaining margin expansion while scaling Green Apron Service and accelerating new store openings.
  • Legal accruals and potential regulatory changes affecting operating expenses.

Questions analysts left open

  • Service-time performance targets of 4 to 4:12 minutes and the impact of scheduled ordering on throughput.
  • COGS pressure from rising coffee prices and tariffs and its effect on EPS flow-through.
  • Labor cost trends and whether Green Apron Service productivity gains can be sustained in future quarters.
  • Sustainability of margin expansion and the timing of the $2 billion cost-savings program.
  • Potential disruption or adoption lag from the revamped Starbucks Rewards program.

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Recent SBUX quarters

All SBUX earnings
+8.4%FY2026 Q2

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q2

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.