Starbucks Reports Adjusted EPS of $0.80 as Global Comparable Sales Rise 7.2%

Key Facts

Starbucks reported adjusted earnings per share of $0.80 in the fourth quarter of fiscal 2026, up 54% year over year, while global comparable sales rose 7.2%, topping analysts’ 6% estimate, according to a FactSet survey. The 13-week quarter ended on September 27, 2026, the company said. Consolidated revenue, however, fell 4% to $9.1 billion, with the company attributing the decline mainly to the conversion of its China operations to a licensed joint-venture model. The results therefore combined improving sales at existing cafes with a decline in overall revenue. The figures also showed divergent performance across markets, with strong growth in the U.S. and weaker transactions in international markets.

Global comparable-sales growth came from a 5.2% increase in average ticket and a 1.8% rise in comparable transactions, Starbucks said. In the U.S., comparable sales rose 7.7%, and the company said growth extended across different age and income groups and times of day. The Associated Press reported that fall beverages drew customers, while Starbucks said matcha had become a $1 billion platform. These indicators reflect contributions from spending per visit and a higher number of transactions to improved U.S. sales. Chief Executive Brian Niccol said the “Back to Starbucks” plan began as a turnaround plan and has now become a growth plan.

In international markets, comparable sales rose 0.9%, as a 3.7% increase in average ticket partly offset a 2.8% decline in transactions, according to the company’s statement. At the same time, international segment revenue fell 37% to $1.3 billion compared with the fourth quarter of fiscal 2025. Starbucks attributed the decline mainly to the conversion of its China operations to a licensed joint venture. This meant comparable-sales growth in the segment did not prevent a decline in its overall revenue. The company had closed about 250 company-operated cafes in North America during September 2026 as part of a review of its store portfolio.

Starbucks said it had recorded five consecutive quarters of positive comparable-sales growth, alongside improved operating margin for three consecutive quarters through the end of fiscal 2026. For the fiscal year ended September 27, earnings per share under generally accepted accounting principles rose to $0.59, up 392% year over year, while adjusted earnings per share was $0.80. The company said it plans to resume share buybacks in fiscal 2027, without specifying a program amount in its earnings release. The chief financial officer said the dividend increase and plan to resume buybacks reflect “our confidence and disciplined focus on delivering sustainable long-term value.” The company’s shares fell about 2% in extended trading on Thursday after the results were announced, according to the Associated Press.

For fiscal 2027, the company expects adjusted earnings per share of $3.15 to $3.25, including a contribution of slightly more than 10 cents related to a 53rd fiscal week. It also expects to add a net of about 1,200 cafes globally, led by international markets. Starbucks declared a cash dividend of $0.63 per share, payable on November 27, 2026, to shareholders of record on November 13. The guidance places store growth and cash returns to shareholders among the steps the company has announced for the next fiscal year. Fiscal 2027 ends at a later date not specified in the information available here.