Starbucks CEO Brian Niccol declared the company's turnaround is working, telling CNBC's Squawk Box that "the shine is back on Starbucks" after fiscal Q3 2026 global comparable sales rose 7.9% and non-GAAP EPS of $0.85 beat estimates by 30.79%. Management raised full-year EPS guidance to $2.55 to $2.65, and U.S. transactions grew 4.5% while non-GAAP operating margin expanded 430 basis points to 14.4%, though tariff refunds helped that figure. The store uplift program has remodeled well over 1,000 of Starbucks' 41,304 global stores, with Niccol targeting close to 1,500 or more by fiscal year-end, leaving most of the 18,371 North American company-operated base untouched at roughly $150,000 per remodel. Shares closed at $99.22 on September 10, up 22.8% over one year but down 6.44% over the past month, with a trailing P/E of 58x and a forward P/E of 34x against an analyst target of $112.23. The fiscal 2026 EPS consensus has risen from $2.3824 ninety days ago to $2.5905, with 28 upward revisions and zero cuts in the past 30 days, while unresolved items include the China divestiture to Boyu Capital and negative shareholders' equity of $7.67 billion.
Starbucks CorporationQ3 comps rose 7.9%, EPS beat by 30.79%, and full-year EPS guidance was raised to $2.55-$2.65.
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