Brian Niccol speaks on CNBC's Squawk Box on October 30, 2018.
Anjali Sundaram | CNBC
Starbucks will share more details about its fiscal fourth quarter after the bell on Wednesday.
The coffee giant announced its preliminary quarterly results on October 22, showing that sales fell for the third consecutive quarter.
Here's what Wall Street analysts polled by LSEG expect the company to report:
- Earnings per share: $1.03 expected
- Gain: $9.38 billion is expected
This earnings report is CEO Brian Niccol's first since joining the company in September.
Investors will expect to see more details about Niccol's strategy. He has previously said he plans to focus first on reviving U.S. sales and bringing the brand “back to Starbucks.” When the coffee chain released its preliminary report, Niccol said in prepared remarks that the company will simplify its menus, set its prices and ensure all drinks are delivered to customers.
According to the preliminary report, Starbucks' sales fell 3% in the latest quarter and same-store sales fell 7%, the company's steepest decline since the Covid-19 pandemic. North American same-store sales fell 6%, while same-store sales in China fell 14%. The company reported preliminary adjusted earnings per share of 80 cents.
Starbucks suspended its fiscal 2025 guidance, citing the CEO transition and recent dismal performance.
Shares of Starbucks are up 1% this year, outpaced by the S&P500s gain of 22%. The company has a market capitalization of $111 billion.