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Starbucks (SBUX) guidance and outlook
Starbucks (SBUX) initiated its guidance on Oct 29, 2026: Operating margin 13.5%–14% for FY2027; EPS $3.15–$3.25 for FY2027. Starbucks' 10-Q filed Jul 29, 2026 makes 23 forward-looking statements, 4 of them new and 6 no longer said since the filing before.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| Revenue | FY2027 | +4% | new |
| Operating margin | FY2027 | 13.5%–14% | new |
| EPS | FY2027 | $3.15–$3.25 | new |
From the earnings release filed Oct 29, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Jul 29, 2026
- • evolving consumer preferences, demand, consumption, or spending behavior, reduction in discretionary spending and price increases, and our ability to anticipate or react to these changes;
- • failure to meet market expectations for our financial performance or any announced guidance and the impact thereof;
- We believe our financial results and long-term growth model will continue to be driven by new store openings, comparable store sales, and operating margin management, underpinned by disciplined capital allocation.
- new · We expect that the conversion to our licensed joint venture model will continue to drive lower revenues and higher operating margin for Starbucks, as compared to the historical, company-operated model.
- By bringing together the trusted Starbucks brand, and Boyu Capital’s deep local expertise, we believe we will be able to serve more customers, enter more cities, strengthen profitability, and better compete in China’s dynamic and evolving market.
- In the second quarter of fiscal 2026, management approved a restructuring plan to relocate certain functions of our support organization to an additional office in Nashville, Tennessee, further supporting the Company’s “Back to Starbucks” strategy and the intention to establish a more strategic presence in the Southeast region of the United States.
- Our new office in Nashville reflects three key advantages: proximity to key suppliers, access to a deep and growing talent pool in the region, notably in technology, and alignment with where we expect future coffeehouse growth.
- new · Under the plan, the Company expects to capture cost savings through a more streamlined support structure, and a simplified operating model for Starbucks Reserve and Roastery locations.
- As the fiscal year progresses, we will continue to refine and execute our “Back to Starbucks” initiatives to drive topline momentum and build sales leverage while investing in our cafes and customer experience, with a focus on delivering exceptional service with speed, providing seamless digital experiences, strengthening our supply chain, and enabling technological efficiencies.
- We will continue to amplify our brand, engaging with our customers authentically and distinctly as Starbucks, through broad-based marketing, menu innovation, and Starbucks Rewards engagement, with the goal of deepening customer connection, brand loyalty and affinity.
- As our international business shifts toward a more predominantly licensed model, we will continue evolving how we support our licensed business partners.
- new · We expect our international business to be a meaningful contributor to coffeehouse growth over time, supported by our licensed business model and significant opportunities for development in markets globally.
Starbucks' latest quarter
Starbucks, Q4 FY26: revenue $9.1B (-4% year over year), operating margin 10.8%, net earnings $677M, operating cash flow $1.4B. The chart follows the revenue to costs, profit and cash.
Questions
Did Starbucks raise or lower its guidance?
Starbucks (SBUX) initiated its guidance on Oct 29, 2026: Operating margin 13.5%–14% for FY2027; EPS $3.15–$3.25 for FY2027.
What does Starbucks expect?
We expect that the conversion to our licensed joint venture model will continue to drive lower revenues and higher operating margin for Starbucks, as compared to the historical, company-operated model. Under the plan, the Company expects to capture cost savings through a more streamlined support structure, and a simplified operating model for Starbucks Reserve and Roastery locations. We expect our international business to be a meaningful contributor to coffeehouse growth over time, supported by our licensed business model and significant opportunities for development in markets globally.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.