Starbucks Corporation: Mixed — EPS $0.80, Revenue $9.14B
Mixed ResultQ4 2026 · After-market
Did Starbucks Corporation (SBUX) beat earnings today?
It was a mixed report for Q4 2026 — Starbucks Corporation (SBUX) beat on EPS but missed on revenue.
Earnings Per Share+12.68% surprise
$0.80Actual
Expected: $0.71
vs. year ago +53.8%
Total Revenue-0.96% surprise
$9.14BActual
Expected: $9.23B
vs. year ago -4.5%
Released Oct 29 · 4:05 PM ET
Earning Report
| Metric | Q4 FY2026 | Q4 FY2025 | YoY Change % |
|---|---|---|---|
| Revenue | $9.14B | $9.57B | -4.5% |
| Revenue detail — reported lines | |||
| └─Company-operated coffeehouses | $7.43B | $7.86B | -5.5% |
| └─Licensed coffeehouses | $1.20B | $1.09B | +9.4% |
| └─Other | $515.50M | $614.00M | -16.0% |
| └─North America | $7.33B | $6.90B | +6.2% |
| └─International | $1.31B | $2.07B | -36.9% |
| └─Channel Development | $494.40M | $542.60M | -8.9% |
| └─Corporate and Other | $12.60M | $54.00M | -76.7% |
| GAAP Diluted EPS | $0.59 | $0.12 | +391.7% |
| Non-GAAP Diluted EPS | $0.80 | $0.52 | +53.8% |
| Net earnings | $677.20M | $133.10M | +408.8% |
Financial Outlook / Guidance
| Metric | Next Quarter Outlook | FY2027 Outlook |
|---|---|---|
| Consolidated net revenues | — | ~(1%) YoY decline ($700M 53rd week) |
| North America comparable coffeehouse sales | — | ~4.0% |
| Non-GAAP consolidated operating margin | — | 13.5%-14.0% |
| Non-GAAP EPS | — | $3.15-$3.25 (>$0.10 53rd week) |
| Net new coffeehouses | — | ~1,200 |
Business Highlights
- ➤Opened 303 net new coffeehouses in Q4, ending with 41,607 coffeehouses globally.
- ➤The global portfolio ended 32% company-operated and 68% licensed.
- ➤Closed approximately 250 company-operated North America coffeehouses during September 2026.
- ➤U.S. coffeehouses represented 40% of the global portfolio, totaling 16,781.
- ➤Converted 7,991 China coffeehouses from company-operated to licensed following the divestiture.
- ➤International led plans for approximately 1,200 net new coffeehouses in fiscal 2027.
- ➤Declared a $0.63 per-share cash dividend payable November 27, 2026.
- ➤Reached 66 consecutive quarters of dividend payouts.
- ➤Starbucks has sourced and roasted high-quality arabica coffee since 1971.
Management Commentary
Brian Niccol, chairman and chief executive officer
“We had a terrific quarter and a great year driven by our focus on the fundamentals and what has always set Starbucks apart: exceptional coffee, a moment of connection and a world-class customer experience. This gives me confidence our performance is durable. Back to Starbucks started as our turnaround plan. Now, it's our growth plan.”
Cathy Smith, chief financial officer
“In fiscal 2026, we returned to comp growth, expanded margin and delivered stronger earnings, and we intend to build on that progress in fiscal 2027. Our recently increased dividend and plans to resume share repurchases in fiscal 2027 underscore our confidence and disciplined focus on driving sustainable long-term value.”