Starbucks is set to report its quarterly earnings after the bell on Thursday.
Here's what Wall Street is expecting the company to report, based on a survey of analysts by LSEG:
Wall Street is also projecting that the coffee giant will report its fifth straight quarter of same-store sales growth, as its U.S. turnaround takes hold. Analysts expect Starbucks to post a same-store sales increase of 6%, fueled by its North American cafes, according to StreetAccount estimates.
As its U.S. business improves, Starbucks is closing underperforming locations, which could boost same-store sales numbers. In September, the company announced it would shutter about 1% of its North American footprint, representing about 250 cafes. The company expects to incur about $300 million in restructuring charges related to the closures.
The company's earnings report also comes weeks after Starbucks quashed speculation that it will buy Chipotle Mexican Grill , CEO Brian Niccol's former employer. While Chipotle investors cheered for the rumored acquisition, industry analysts said that a merger would distract Starbucks from its turnaround.
Starbucks stock has climbed about 24% this year, raising its market cap to roughly $119 billion.
