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Sentiment · FY2026 Q3
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Dave Palmer | Evercore ISI | 8 (0%) |
| Brian Harbour | Morgan Stanley | 7 (0%) |
| David Tarantino | Robert W. Baird | 7 (0%) |
| John Ivankoe | JPMorgan | 7 (0%) |
| Danilo Gargiulo | Bernstein | 6 (0%) |
| Sara Senatore | Bank of America | 6 (17%) |
| Lauren Silberman | Deutsche Bank | 6 (0%) |
| Jeff Bernstein | Barclays | 6 (0%) |
| Chris O'Cull | Stifel | 6 (0%) |
| Andrew Charles | TD Cowen | 5 (20%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Evercore ISI | 1 | 8 (0%) |
| Robert W. Baird | 1 | 7 (0%) |
| Bank of America | 2 | 7 (14%) |
| JPMorgan | 1 |
| 7 (0%) |
| Morgan Stanley | 1 | 7 (0%) |
| Deutsche Bank | 1 | 6 (0%) |
| Stifel | 1 | 6 (0%) |
| Barclays | 1 | 6 (0%) |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $9.07B | -3.2% | $0.80 | -24.5% | 14.4% | 10.0% | $737M |
| FY2025 Q1 | $9.40B | -0.3% | $0.69 | -23.3% | 11.9% | 8.3% | $1.38B |
| FY2025 Q2 | $8.76B | +2.3% | $0.34 | -50.0% | 6.9% | 4.4% | $-297M |
| FY2025 Q3 | $9.46B | +3.8% | $0.49 | -47.3% | 9.9% | 5.9% | $434M |
| FY2025 Q4 | $9.57B | +5.5% | $0.12 | -85.0% | 9.9% | 1.4% | $926M |
| FY2026 Q1 | $9.91B | +5.4% | $0.26 | -62.3% | 9.2% | 3.0% | $1.27B |
| FY2026 Q2 | $9.53B | +8.8% | $0.45 | +32.4% | 8.2% | 5.4% | $92M |
| FY2026 Q3 | $9.32B | -1.4% | $0.91 | +85.7% | 10.5% | 11.2% | — |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
The Starbucks turnaround inflected decisively with US comp accelerating to +7.1% on transaction strength, delivering the first top and bottom line growth in over two years as EPS grew 22% to $0.50. Management raised FY2026 guidance with EPS lifted to $2.25-$2.45 and global comp guidance raised from 3%+ to 5%+, reflecting broad-based momentum. Starbucks Rewards reached a record 35.6 million members and the Green Apron service model drove measurable operational improvement, though input cost headwinds from tariffs and coffee prices persisted.
Demand | Margin | Cost Pressure | Innovation & R&D | Competitive Dynamics | Product Launch | Revenue Growth | Pricing | |
|---|---|---|---|---|---|---|---|---|
| 2025Q1 | 8 | 4 | 3 | 5 | 2 | 1 | 3 | 2 |
| 2025Q2 | 5 | 2 | 3 | 2 | 2 | 2 | 1 | |
| 2025Q3 | 6 | 3 | 3 | 2 | 2 | 3 | 1 | 1 |
| 2025Q4 | 7 | 3 | 2 | 1 | 3 | 1 | 2 | 2 |
| 2026Q1 | 6 | 3 | 3 | 2 | 2 | 3 | 2 | |
| 2026Q2 | 5 | 5 | 2 | 3 | 2 | 1 |
| '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|
| Demand | 8 | 5 | 6 | 7 | 6 | 5 |
| Margin | 4 | 2 | 3 | 3 | 3 | 5 |
| Cost Pressure | 3 | 3 | 3 | 2 | 3 | 2 |
| Innovation & R&D | 5 | 2 | 2 | 1 | 2 | 3 |
| Competitive Dynamics | 2 | 2 | 2 | 3 | 2 | 2 |
| Product Launch | 1 | 2 | 3 | 1 | 3 | |
| Revenue Growth | 3 | 1 | 2 | 2 | 1 | |
| Pricing | 2 | 1 | 1 | 2 |
What SBUX and other companies said about each other on FY2026 Q2 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Some of the innovation that we have in the Starbucks portfolio is intended to do that.”
PepsiCo references innovation in its Starbucks ready-to-drink partnership portfolio as a lever to reaccelerate its coffee business.
“This agreement deepens and extends a highly successful relationship, and will enable us to expand distribution and innovation for the Starbucks brand in the Keurig ecosystem.”
KDP's renewed Nestlé K-Cup deal lets it expand distribution and innovation for the licensed Starbucks brand in Keurig; a read-through on Starbucks's at-home pod presence.
“introducing experiential benefits, including category-specific rewards in beauty and simple moments like Starbucks offers to enhance in-store visits and drive incremental trips.”
Target is weaving Starbucks (its in-store cafe partner) offers into its Target Circle loyalty program to enhance in-store visits and drive incremental trips.
“Our previously announced transaction with Boyu Capital closed shortly after quarter end.”
Starbucks closed its China joint-venture transaction with private-equity firm Boyu Capital, which takes a stake in and licenses Starbucks China's retail operations.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
SBUX Starbucks | 9 | +8.8% | |
| CMG Chipotle Mexican Grill | 5 | +7.4% | |
| DPZ Domino's | 5 | +3.5% | |
| DRI Darden Restaurants | 5 | +5.9% | |
| MCD McDonald's Corporation | 7 | +9.4% | |
| YUM Yum! Brands | 9 | +15.2% |