Every 10-Q that Starbucks Corp (SBUX) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow SBUX and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SBUX filings page.
Starbucks Corporation reported quarterly net revenues of $9,322.7 million, slightly below $9,456.0 million a year earlier, while operating income increased to $980.4 million from $935.6 million. Net earnings attributable to Starbucks rose to $1,045.3 million, with diluted EPS of $0.91 versus $0.49.
Results were driven by a $536.3 million pre-tax gain on the divestiture of Starbucks retail operations in China, where Boyu Capital acquired 60% and Starbucks retained a 40% equity interest valued at approximately $1.2 billion. The company received $3.1 billion of consideration and used about $1.3 billion to repurchase senior notes, reducing long-term debt to $11,780.2 million. Operating cash flow for the first three quarters was $3,604.1 million, while restructuring and impairment charges tied to the “Back to Starbucks” strategy totaled $415.8 million and included 247 store closures. The year-to-date effective tax rate increased to 36.5%, largely due to tax effects of the China transaction and related changes in indefinite reinvestment assertions.
Starbucks Corporation reported solid top-line growth but mixed bottom-line results for the quarter ended March 29, 2026. Net revenues rose to $9.5 billion from $8.8 billion, driven by a 6.2% increase in global comparable store sales, including 7.1% growth in the U.S. and 2.6% internationally.
Operating income increased to $828.1 million from $601.0 million, with operating margin expanding to 8.7%, helped by sales leverage and lower depreciation and store operating costs after classifying China retail assets as held for sale. Quarterly diluted EPS was $0.45, up from $0.34.
For the first two quarters, earnings before income taxes were relatively stable at $1.49 billion versus $1.52 billion, but net earnings fell to $804.2 million from $1.17 billion as the effective tax rate surged to 46.1%, largely from changes in indefinite reinvestment assertions and reorganization of entities in China. Starbucks recorded $113.2 million in restructuring and impairment charges year-to-date and closed 227 stores under its “Back to Starbucks” strategy.
A major strategic move was the divestiture of 60% of Starbucks retail operations in China to Boyu Capital for total consideration of $3.1 billion, converting 7,991 company-operated stores to licensed stores and leaving Starbucks with a 40% joint-venture interest. The company plans to use proceeds for debt reduction and balance sheet strengthening and expects a material pre-tax gain. Net cash provided by operating activities was $1.96 billion for the first two quarters, while Starbucks repaid $1.0 billion of long-term debt, paid $1.41 billion in dividends, and ended the period with $1.53 billion in cash and cash equivalents.
Starbucks reported mixed first-quarter fiscal 2026 results. Net revenue rose to $9.9 billion from $9.4 billion, driven by 4% global comparable store sales growth, higher U.S. traffic, international gains, and stronger Global Coffee Alliance and ready‑to‑drink sales.
Profitability weakened sharply. Operating margin fell to 9.0% from 11.9% as labor investments under the “Back to Starbucks” strategy, inflation, restructuring charges of $88.1 million, and higher interest expense weighed on results. Net earnings dropped to $293.3 million from $780.8 million, largely due to a one‑time $266 million tax impact tied to China.
Strategic moves were significant. Starbucks classified its China retail operations as held for sale ahead of a planned joint venture with Boyu Capital, reclassifying $4.7 billion of assets and $1.8 billion of liabilities. The deal is based on an approximately $4 billion enterprise value and is expected to close in early calendar 2026.