Starbucks is about to report earnings. Here's what to expect

Starbucks is expected to report its quarterly earnings after the bell on Wednesday.

Here's what Wall Street analysts surveyed by LSEG are expecting the company to report:

Analysts are forecasting that Starbucks will report same-store sales growth of 6%, which would mark its third straight quarter of gains and further signal that the coffee giant's turnaround has firmly taken hold. To bring back customers, the chain has cut back on discounts and focused instead on faster service and more welcoming cafes.

So far, the strategy seems to be working. When Starbucks raised its forecast last quarter, CEO Brian Niccol said that the new projections were cautious relative to its outperformance that reporting period. Despite its comeback, the coffee chain isn't immune to broader economic uncertainty and volatility, like spiking gas prices.

For fiscal 2026, Starbucks expects global and U.S. same-store sales to increase by at least 5%. The company anticipates adjusted earnings per share between a range of $2.25 and $2.45.

Shares of Starbucks have risen 23% this year, bringing its market cap to roughly $118 billion.