Starbucks — Fiscal Year 2026 Earnings Summary

Starbucks reported strong fiscal 2026 results driven by its "Back to Starbucks" strategy, with global comparable coffeehouse sales increasing 6.2% for the full year and 7.2% in the fourth quarter. Consolidated net revenues for the full year rose 2% to $37.9 billion, while the fourth quarter saw a 4% decline to $9.1 billion due to the divestiture of retail operations in China. The company achieved significant margin expansion, with non-GAAP operating margins reaching 14.0% in Q4 and 11.9% for the full year, alongside non-GAAP earnings per share growth of 54% and 28% respectively. Looking ahead to fiscal 2027, Starbucks projects consolidated net revenues to decline approximately 1% and non-GAAP earnings per share to range between $3.15 and $3.25.