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Starbucks (SBUX) aims to keep its growth story piping hot when it reports third quarter results as CEO Brian Niccol leads the company into year three of its turnaround plan.

Wall Street expects Starbucks global same-store sales to grow 5.7%, according to Bloomberg data, just shy of the 6.2% jump seen in Q2. Last year, the company saw a 2% decline in overall same-store sales growth in the third quarter.

The coffee chain is expected to report adjusted earnings per share of $0.56, an increase from $0.50 per share in the same period last year. Revenue is set to come in at $9.2 billion, down from $9.5 billion this time last year due to the transition of its China business to a joint venture.

In November, Starbucks announced it sold a 60% majority stake in its China business to Boyu Capital in a deal valuing the business at $4 billion.

In North America, sales are expected to see a 6% pop as the chain leans into fruity flavors and cold foams, which drive up average check sizes.

Ahead of the report, William Blair analyst Sharon Zackfia wrote in a note to clients, "we expect the third straight quarter of solidly positive traffic at 2% to 3% augmented by rising average ticket on incremental price increases and positive mix shift related to food and beverage innovation."

That innovation includes a $2 billion revamp of its Refreshers business, a new summer menu, and the launch of the Blue Coconut Refresher and Iced Blue Coconut Matcha in June.

According to data intelligence platform Placer.ai, visits to Starbucks outpaced the broader industry in May and June as consumers faced elevated gas prices and macroeconomic uncertainty.

In the second quarter, Starbucks raised its full-year profit and same-store sales growth outlooks. For 2026, Starbucks expects to see global and US comparable store sales growth of more than 5%, up from its previous guidance of 3% or greater.

Starbucks also increased its 2026 earnings per share forecast to a range of $2.25 to $2.45, up from a previous range of $2.15 to $2.40.

Brooke DiPalma is a reporter for Yahoo Finance. Follow her on X at @BrookeDiPalma or email her at bdipalma@yahoofinance.com.

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