• Wall Street analysts surveyed by Refinitiv are expecting Starbucks to report earnings per share of 80 cents and revenue of $7.95 billion.
• Shares of Starbucks have fallen 1% in the last 12 months, giving the company a market value of $113 billion.

Starbucks is expected to report its quarterly earnings after the bell Tuesday.

Here's what Wall Street analysts surveyed by Refinitiv are expecting:

• Earnings per share: 80 cents expected
• Revenue: $7.95 billion expected

Last quarter, the coffee giant said it was preparing for record-breaking holiday sales. But that was before a surge of new Covid-19 cases in the U.S. caused by the omicron variant, led to a worsening labor crunch and shortened store hours across the restaurant industry.

Still, analysts are confident that the company wasn't impacted too harshly by the resurgence in U.S. cases. StreetAccount estimates Starbucks will report same-store sales growth of 17.3% in the Americas for its fiscal first quarter.

The company will likely face questions about how it's dealing with the union push from its U.S. company-owned cafes. As of Monday, 54 stores have filed for union elections. The pace of new filings with the National Labor Relations Board has accelerated after two cafes in Buffalo voted in favor of unionizing.

Outside of the U.S., the coffee giant is facing even more challenges. China, the company's second-largest market, reimposed lockdowns in some areas as Covid cases rose during the quarter.

For fiscal 2022, Starbucks is anticipating its GAAP earnings per share will shrink by 4%, while adjusted earnings per share will rise by at least 10%. It is also expecting global same-store sales to notch high-single digit gains and net sales of $32.5 billion to $33 billion.

Shares of Starbucks have fallen 1% in the last 12 months, giving the company a market value of $113 billion.