Starbucks (SBUX) Reports Earnings Tomorrow: What To Expect

Coffeehouse chain Starbucks (NASDAQ:SBUX) will be reporting earnings tomorrow afternoon. Here’s what to expect.

Starbucks beat analysts’ revenue expectations by 0.9% last quarter, reporting revenues of $9.40 billion, flat year on year. It was a strong quarter for the company, with a solid beat of analysts’ same-store sales estimates and a decent beat of analysts’ EBITDA estimates.

Is Starbucks a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Starbucks’s revenue to grow 3% year on year to $8.82 billion, a reversal from the 1.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.49 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Starbucks has missed Wall Street’s revenue estimates five times over the last two years.

Looking at Starbucks’s peers in the restaurants segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Darden delivered year-on-year revenue growth of 6.2%, missing analysts’ expectations by 1.7%, and Chipotle reported revenues up 6.4%, falling short of estimates by 2.1%. Darden traded up 6.2% following the results while Chipotle was also up 1.7%.

Read our full analysis of Darden’s results here and Chipotle’s results here.

Debates over possible tariffs and corporate tax adjustments have raised questions about economic stability in 2025. While some of the restaurants stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 3.1% on average over the last month. Starbucks is down 14.4% during the same time and is heading into earnings with an average analyst price target of $99.56 (compared to the current share price of $83.97).

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