Jollibee Foods Corporation (PSE: JFC) and its subsidiaries (the "Jollibee Group") reported record second-quarter earnings for 2026, with net income attributable to equity holders of the parent company rising 5.7% year-over-year to Php3.4 billion (approximately US$55 million). This marked the group's highest quarterly net income on record, supported by margin recovery from first-quarter cost pressures and improved operating leverage.
The group's system-wide sales increased 14.2% year-on-year, driven by continued demand across its Philippine and international businesses and growth across its global brand portfolio. North America continued to deliver strong performance, with Jollibee's system-wide sales increasing 21.6% and same-store sales growing 8.6%. Smashburger also delivered 7.0% same-store sales growth, reflecting momentum across the group's North American portfolio.
Canada is emerging as a key growth market, with plans to add 26 new Jollibee restaurants in British Columbia and Edmonton. These additions would nearly double Jollibee's Canadian network from its existing 28 restaurants over the next five years. The expansion underscores the group's commitment to strengthening its North American presence.
The Jollibee Group's global store network increased 6.4% year-over-year to 10,767 stores across 33 countries, with franchised stores accounting for approximately 70% of gross new openings. The group continues to focus on disciplined capital allocation and capital-light expansion.
Commenting on the results, Ernesto Tanmantiong, Global Chief Executive Officer of JFC, said, "Our second-quarter results demonstrate the continued strength of the Jollibee Group's global brand portfolio and the resilience of consumer demand across our key markets. We delivered healthy system-wide sales growth across all regions, supported by strong contributions from both our Philippine and international businesses, continued same-store sales growth, and ongoing expansion of our global store network."
The second quarter also showed sequential recovery from Q1 cost pressures. Consolidated revenues increased 12.2% versus Q1 2026, supporting a 25.3% increase in gross profit, a 56.1% increase in operating income, and a 130.5% increase in net income attributable to equity holders. Gross profit margin improved to 18.5% in Q2 from 16.5% in Q1, with operating income margin increasing to 7.2% from 5.2%.
Richard Shin, Chief Financial and Risk Officer of JFC and Chief Executive Officer of Jollibee Group International Business, noted, "The second quarter represents an important step forward in our earnings momentum. Pricing actions implemented beginning in April, together with productivity, sourcing, and cost discipline initiatives, contributed to the recovery in gross profit margins and supported stronger operating income and NIAT margins."
Year-on-year, consolidated revenues increased 10.7%, while system-wide sales grew 14.2%. The International segment expanded by 25.4% in system-wide sales, led by Highlands Coffee (+46.7%), Jolli-K's Compose Coffee (+39.7%), and EMEAA brands Jollibee and Chowking (+25.3%). The Philippine business saw system-wide sales increase 5.7%, supported by contributions from Mang Inasal (+10.7%) and Jollibee (+6.6%).
For full-year 2026, the Jollibee Group maintains its guidance for system-wide sales growth of 8%-12% and store network growth of 5%-10%, but revised same-store sales growth to 3%-4% and gross new store openings to 1,000-1,100 stores. Operating income growth guidance is revised to 10%-15%, reflecting updated assumptions and continued transition costs.
The group also highlighted recent achievements, including being named to TIME's 100 Most Influential Companies of 2026 and recognized by USA Today for having the Best Fast Food Fried Chicken. Jollibee Vietnam continues to be a strong growth engine, with system-wide sales growth of 47.6% and same-store sales growth of 17.9% in Q2, and it was ranked the No. 1 quick-service restaurant brand in Vietnam by Euromonitor International.
