Starbucks Corporation (SBUX) Earnings: Q4 Fiscal 2026 Results and Next Report Date

The quarter ended September 27, 2026 and Starbucks published the results on October 29, 2026. Revenue and diluted EPS are shown against Q4 fiscal 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Starbucks reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Starbucks converted its retail operations in China to a licensed joint venture model with Boyu Capital in the third quarter of fiscal 2026. In that conversion 7,991 company-operated coffeehouses in China became licensed, which moved International revenue from coffeehouse sales toward product sales and royalties. Year-ago figures include China as a company-operated business.
• Starbucks fiscal 2027 is a 53-week year; the extra week falls in the fourth quarter of fiscal 2027.

Source: Starbucks Q4 and full fiscal year 2026 results, October 29, 2026. Figures as reported; checked against the release on November 10, 2026.

How Starbucks splits revenue in its own release, under its own labels, for Q4 fiscal 2026 against Q4 fiscal 2025. Indented lines are parts of the line above them.

• Starbucks's North America revenue was $7.3 billion in Q4 fiscal 2026, up 6% from $6.9 billion in Q4 fiscal 2025, 80% of total revenue.
• Starbucks's International revenue was $1.3 billion in Q4 fiscal 2026, down 37% from $2.1 billion in Q4 fiscal 2025, 14% of total revenue.
• Starbucks's Channel Development revenue was $494 million in Q4 fiscal 2026, down 9% from $543 million in Q4 fiscal 2025, 5% of total revenue.
• Starbucks's Corporate and Other revenue was $12.6 million in Q4 fiscal 2026, down 77% from $54.0 million in Q4 fiscal 2025, under 1% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q4 fiscal 2026 release, Starbucks said:

“Consolidated net revenues to decline by approximately 1% year over year, including approximately $700 million related to the 53rd week. The year-over-year decrease is primarily due to the transition of Starbucks China's retail operations to a licensed joint venture model;”

“North America comparable coffeehouse sales growth of approximately 4.0%;”

“Non-GAAP consolidated operating margin of 13.5% to 14.0%;”

“Non-GAAP earnings per share of $3.15 to $3.25, including slightly more than ten cents related to the 53rd week; and”

Source: Starbucks Q4 FY26 release, Oct 29, 2026.

This is the company's own guidance as of Oct 29, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the SBUX forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP net revenues and diluted EPS, each as first reported in that quarter's release. Quarters through Q2 fiscal 2026 include Starbucks retail operations in China as a company-operated business.

Starbucks's next report is expected around January 27, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q4 fiscal 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q4 fiscal 2026 (this page), reported Oct 29, 2026

Starbucks reported total net revenues of $9,141.2 million in Q4 fiscal 2026, down 4.5% from $9,569.0 million. Company-operated coffeehouses brought in $7,429.6 million (81.3% of the total), licensed coffeehouses $1,196.1 million and other revenue $515.5 million. (Starbucks Q4 FY26 release, Oct 29, 2026)

North America is most of the business: $7,328.4 million of net revenues, up 6%. Starbucks attributed the rise to a 7.9% increase in comparable coffeehouse sales, made up of a 5.0% increase in average ticket (product mix, customer food attach, pricing and higher delivery sales) and a 2.7% increase in comparable transactions. U.S. comparable coffeehouse sales rose 7.7%. (Starbucks Q4 FY26 release, Oct 29, 2026)

International net revenues fell 37% to $1,305.8 million because Starbucks converted its retail operations in China to a licensed joint venture model in the third quarter of fiscal 2026. International company-operated coffeehouse revenue dropped 53.2% to $740.7 million, while licensed coffeehouse revenue rose 18.4% to $557.7 million as product sales to, and royalties from, licensees grew. International comparable coffeehouse sales rose 0.9%. (Starbucks Q4 FY26 release, Oct 29, 2026)

Channel Development, which sells packaged coffee and ready-to-drink products largely through the Global Coffee Alliance with Nestlé and collaborations with PepsiCo, had net revenues of $494.4 million, down 9%, which Starbucks put down to lower revenue in the Global Coffee Alliance. Its operating margin was 53.5%. (Starbucks Q4 FY26 release, Oct 29, 2026; Starbucks Form 10-K, fiscal 2025, Nov 14, 2025)

In fiscal 2025, beverages made up 73% of retail sales at company-operated stores, food 23% and other items 4%. Starbucks ended Q4 fiscal 2026 with 41,607 coffeehouses, 32% company-operated and 68% licensed, after opening 303 net new coffeehouses in the quarter; 16,781 are in the U.S. (Starbucks Form 10-K, fiscal 2025, Nov 14, 2025; Starbucks Q4 FY26 release, Oct 29, 2026)

Starbucks reported GAAP diluted EPS of $0.59 in Q4 fiscal 2026, against $0.12 a year earlier, and non-GAAP EPS of $0.80, up 53.8% from $0.52. The gap is mostly restructuring and impairments of $272.8 million ($0.24 a share), which included closing about 250 company-operated North America coffeehouses in September 2026. Non-GAAP results also exclude transaction and transition costs tied to the Boyu Capital partnership in China and transformation costs. (Starbucks Q4 FY26 release, Oct 29, 2026)

The year-ago quarter carried $755.0 million of restructuring and impairments ($0.66 a share), partly offset by a $145.2 million litigation settlement benefit, which is why GAAP EPS rose 391.7% while non-GAAP EPS rose 53.8%. GAAP operating margin was 10.8%, up 790 basis points, and non-GAAP operating margin was 14.0%. (Starbucks Q4 FY26 release, Oct 29, 2026)

The effective tax rate rose to 27.1% from 18.8%, and the non-GAAP rate to 24.7%. Diluted weighted average shares were 1,144.6 million, against 1,140.9 million a year earlier. Starbucks declared a dividend of $0.63 a share and said it plans to resume share repurchases in fiscal 2027. (Starbucks Q4 FY26 release, Oct 29, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Starbucks gives full-year guidance in its release. For fiscal 2027, a 53-week year, it expects consolidated net revenues to decline by about 1%, including about $700 million from the 53rd week, mainly because China retail is now a licensed joint venture. It guided North America comparable coffeehouse sales growth of about 4.0%, non-GAAP operating margin of 13.5% to 14.0% and non-GAAP EPS of $3.15 to $3.25 (GAAP $3.07 to $3.17). (Starbucks Q4 FY26 release, Oct 29, 2026)

Starbucks also expects about 1,200 net new coffeehouses globally in fiscal 2027, led by International. For fiscal 2026 as a whole it reported non-GAAP EPS of $2.72 and GAAP EPS of $2.21 on net revenues of $37,910.6 million. (Starbucks Q4 FY26 release, Oct 29, 2026)

A consensus figure is the average of the models published by the analysts who cover Starbucks, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Starbucks's own release and filings put weight on for Q4 fiscal 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning SBUX is on is SBUX a buy or a sell?, what analysts expect next is on the SBUX forecast, and what the company does is on the Starbucks Corporation (SBUX) stock page.

Every number on this page can be traced to a document Starbucks published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.