Starbucks earnings outlook puts same-store sales in focus
Starbucks is due to report quarterly results, with LSEG analysts expecting 6% same-store sales growth and $9.16 billion in revenue.
By Maya Okafor · Markets Writer
· 3 min read
Starbucks earnings outlook is in focus Wednesday as investors wait for the coffee chain’s quarterly report after the market close. For retail investors, the key question is whether faster service and more inviting stores are still bringing customers back.
Analysts surveyed by LSEG expect Starbucks to report earnings per share of 66 cents on revenue of $9.16 billion, according to CNBC. Earnings per share, or EPS, is the portion of a company’s profit assigned to each share of stock, and it is one of the main numbers investors use to judge whether a company beat or missed expectations.
Wall Street is also looking for same-store sales growth of 6%, CNBC reported. Same-store sales compare revenue at locations open long enough to show a fair year-over-year trend, which helps investors separate real demand from growth created by opening new cafes.
What are analysts expecting from Starbucks earnings?
LSEG-surveyed analysts expect Starbucks to post 66 cents in EPS and $9.16 billion in revenue for the quarter, according to CNBC. They also forecast 6% same-store sales growth, which CNBC said would mark a third straight quarter of gains for the company.
That same-store sales figure matters because it shows whether existing locations are selling more coffee, food and other items without relying on new store openings. For a chain as large as Starbucks, improving sales at current stores can be a clearer sign of customer momentum than expansion alone.
CNBC reported that Starbucks has tried to win back customers by reducing its emphasis on discounts and putting more attention on speedier service and stores that feel more welcoming. Those efforts are part of the company’s turnaround plan under CEO Brian Niccol.
Starbucks raised its forecast last quarter, and Niccol said at the time that the updated projections were cautious compared with the company’s performance in that period, according to CNBC. The company still faces broader economic pressure, CNBC noted, including uncertainty and volatility such as rising gas prices.
What has Starbucks forecast for fiscal 2026?
For fiscal 2026, Starbucks expects global and U.S. same-store sales to rise by at least 5%, CNBC reported. The company also expects adjusted earnings per share of $2.25 to $2.45 for the year.
Adjusted EPS excludes certain costs or gains that management says do not reflect normal operations. Investors watch that figure because it can show how the core business is performing, although it should be read alongside standard earnings and cash flow.
Starbucks’ stock has climbed this year, and CNBC put the company’s market cap at roughly $118 billion. Market cap is the stock market’s estimate of a company’s total equity value, calculated by multiplying the share price by the number of shares outstanding.
The upcoming report will test whether Starbucks can keep building on recent same-store sales gains while handling consumer pressure. For investors, the cleanest read will come from the gap between LSEG expectations, Starbucks’ reported results and any update management gives on its full-year outlook.
This story draws on original reporting from CNBC.
