Starbucks (SBUX) reports fiscal third-quarter earnings after the bell Tuesday, with analysts expecting a quarterly performance roughly in line with the same quarter a year ago.

The results are due not long after The Wall Street Journal reported that 澳洲幸运5官方开奖结果体彩网:activist investor Elliott Investment Management has 澳洲幸运5官方开奖结果体彩网:taken a stake in the coffee giant.

Analysts expect Starbucks to report $1.05 billion in net income, or 93 cents per share, on total revenue of $9.22 billion, compared with profits of $1.14 billion, or 99 cents per share, on $9.17 billion in revenue last year, according to estimates compiled by Visible Alpha.

Key Metric: Same-Store Sales

澳洲幸运5官方开奖结果体彩网:Same-store sales declined in Starbucks' 澳洲幸运5官方开奖结果体彩网:second-quarter earnings. That result🍨 contributed to the stock's worst day of the year so far, w😼ith the shares falling nearly 16%.

澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Laxman Narasimhan said in the second-quarter earnings call that cust🥃omers had been "more exacting" about how they spent their money as inflation slowed discretionary spending.

Like other foodservice giants 澳洲幸运5官方开奖结果体彩网:hoping to bring customers back to their stores, including McDonald's (MCD) and Wendy's (WEN), Starbucks has made the call to lower prices with a "Pairings Menu" it 澳洲幸运5官方开奖结果体彩网:launched last month.

Starbucks also lowered its full-year guidance in the second-quarter report, projecting same-store sales in a range of a low-single-digit decline to flat, down from a prior range predicting growth of 4% to 6%.

Business Spotlight: Reports of Activist Stake

Shares of Starbucks received a boost late last week after The Wall Street Journal reported Elliott Investment Management had bought up a "sizable stake" in Starbucks, and was engaging with the company on plans to boost its stock.

Baird analysts said the news could help the stock in the short term as the firm is likely to push for changes. Elliott has a history of activist investing, 澳洲幸运5官方开奖结果体彩网:most notably in recent months with Southwest Airlines (LUV).

"The presence of an activist investor likely will fuel optimism among investors that activism could push [Starbucks] to pursue changes in strategic/organizational direction if the current approach does not yield better shareholder value," the analysts wrote.

Starbucks shares rose 1.6% on Monday. They're down more than 20% this year.

UPDATE—July 29, 2024: This article has been updated to reflect more recent share price information.