Q2 2026 Starbucks Corp Earnings Call Transcript
Key Points
- Starbucks Corp (SBUX) reported an 8% year-over-year increase in consolidated revenue, reaching $9.5 billion.
- Global comparable store sales grew by 6.2%, driven by strong performance in both North America and International segments.
- The company's operating margin improved to 9.4%, marking the first quarter of consolidated margin expansion since Q1 fiscal 2024.
- Starbucks Rewards membership reached a record 35.6 million, with both rewards member and non-member transactions growing year over year.
- The company successfully launched new menu innovations, including customizable energy refreshers, which have exceeded expectations and strengthened a $2 billion platform.
- North America operating margin contracted by approximately 170 basis points to 10.2%, impacted by product and distribution cost increases and legal accruals.
- The company faces ongoing macroeconomic uncertainties, including potential impacts from high gas prices and tariffs.
- Despite strong performance, the EPS guidance increase was modest, reflecting caution due to the uncertain macro environment.
- Starbucks Corp (SBUX) anticipates that coffee and tariff pressures will continue to affect costs in the first half of fiscal 2026.
- The transition of Starbucks China to a joint venture structure will result in a significant reduction in reported China-related revenues.
Good afternoon. My name is Diego, and I will be your conference operator today. I would like to welcome everyone to Starbucks second quarter fiscal year 2026 conference call. (Operator Instructions) I will now turn the call over to Catherine Park, Vice President of Investor Relations.
Ms. Park, you may now begin your conference.
Good afternoon, and thank you for joining us today to discuss Starbucks' second quarter fiscal year 2026 results. Today's discussion will be led by Brian Niccol, Chairman and Chief Executive Officer; and Cathy Smith, Executive Vice President and Chief Financial Officer. This conference call will include forward-looking statements, which are subject to various risks and uncertainties that could cause our actual results to differ from these statements. Any such statements should be considered in conjunction with cautionary statements in our earnings release and the risk factors discussed in our filings with the SEC, including our latest annual report on Form 10
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
