Recent Q2 fiscal 2026 results showed Starbucks beating non-GAAP EPS estimates by 13.6% at $0.50 versus $0.44, with comparable store sales rising 6.2% driven by transaction growth and an 9% revenue increase to $9.5 billion. The company raised full-year guidance for at least 5% comp sales growth and adjusted EPS of $2.25-$2.45 under its "Back to Starbucks" plan. This momentum supports a balanced outlook for the upcoming Q3 release expected around late July, yet elevated consensus EPS estimates near $0.65 introduce uncertainty around sustained U.S. and China trends, labor costs, and consumer spending. Key swing factors include any revisions to guidance or sequential comp acceleration that could shift trader-implied odds.