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Starbucks (SBUX) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Jul 29, 2026
Starbucks (SBUX) reported revenue of $9.3B for the third quarter fiscal 2026 (Q3 FY26), -1% from a year earlier and -2% from the quarter before. Operating margin was 10.5%, net earnings $1.0B (11.2% of revenue).
Starbucks, Q3 FY26: revenue $9.3B (-1% year over year), operating margin 10.5%, net earnings $1.0B, operating cash flow $1.6B. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.3B | -2% | -1% |
| Operating profit | $980M | +18% | +5% |
| Net earnings | $1.0B | +105% | +87% |
| Operating cash flow | $1.6B | +350% | +64% |
| Free cash flow | $1.4B | 15× | +211% |
What changed
Revenue was $9.3B in Q3 FY26, down 1% year over year and down 2% from the previous quarter. Beverage (1) was the largest line at 58% of revenue. Beverage (1) lost $0.31B year over year (down 5%), 231% of the total change.
Operating profit was $1.0B, a 10.5% margin (up 0.6 points year over year). Total costs fell 2% while revenue fell 1%. Net earnings were $1.0B, up 87% year over year. The effective tax rate was 26.4%. Non-operating items added $0.44B, 31% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $1.6B (up 64% year over year), 157% of net earnings. Non-cash charges added back $0.39B of depreciation and amortization and $0.07B of share-based compensation. Working capital and other items added $0.14B. Capital expenditures of $0.29B left free cash flow of $1.4B.
Questions
What was Starbucks' revenue in the third quarter fiscal 2026?
Starbucks (SBUX) reported revenue of $9.3B for the third quarter fiscal 2026 (Q3 FY26), -1% from a year earlier and -2% from the quarter before.
Was Starbucks profitable in the third quarter fiscal 2026?
Operating profit was $980M (10.5% of revenue) and net earnings $1.0B.
Source: Starbucks 10-Q on SEC EDGAR.