Jollibee Foods Corporation (PSE: JFC) announced record second-quarter results 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 marks the company's highest quarterly net income on record, supported by margin recovery from first-quarter cost pressures and improved operating leverage.
The company's system-wide sales increased 14.2% year-over-year, driven by sustained demand across its Philippine and international businesses and growth across its global brand portfolio. Consolidated revenues grew 10.7% to Php85.9 billion, while operating income increased 1.8% to Php6.2 billion. The results reflect a clear sequential recovery from the first quarter, with gross profit up 25.3%, operating income up 56.1%, and net income more than doubling compared to Q1 2026.
North America emerged as a key growth driver, with Jollibee's system-wide sales in the region increasing 21.6% and same-store sales growing 8.6%. Smashburger, a subsidiary, also delivered 7.0% same-store sales growth, underscoring momentum in one of the group's key international markets. The company announced plans to add 26 new Jollibee locations in British Columbia and Edmonton, expanding its existing 28-restaurant Canadian network and positioning the brand to nearly double its footprint in Canada over the next five years.
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 company's international segment expanded by 25.4% in system-wide sales, led by Highlands Coffee (+46.7%), Compose Coffee (+39.7%), Europe, Middle East, Asia, and Australia (EMEAA) brands Jollibee and Chowking (+25.3%), Tim Ho Wan (+23.0%), Jollibee North America (+21.6%), and Milksha (+12.4%). The Philippine business also delivered growth, with system-wide sales increasing 5.7%, supported by Mang Inasal (+10.7%) and Jollibee (+6.6%).
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." He added that transition-related costs of Php239.0 million (approx. US$3.9 million) affected reported profitability, but these costs are aligned with ongoing efforts to strengthen the long-term quality and scalability of the portfolio.
The Jollibee Group's global store network increased 6.4% year-over-year to 10,767 stores across 33 countries, with 501 stores in North America. Of the gross new openings, approximately 70% were franchised, maintaining the group's franchised ratio at 70%. For full-year 2026, the company reaffirmed its guidance for system-wide sales growth of 8%-12% and store network growth of 5%-10%, while revising same-store sales growth guidance to 3%-4% and updating its gross new store opening target to 1,000-1,100 stores.
Capital expenditures are now expected to be between Php13.0 billion (approx. US$212 million) and Php15.0 billion (approx. US$244 million), with operating income growth guidance revised to 10%-15%. The company remains confident in its growth catalysts, including continued international expansion and portfolio optimization. Jollibee Vietnam has emerged as a strong growth engine, achieving system-wide sales growth of 47.6% and same-store sales growth of 17.9%, with 19 new stores opened in the first half. In China, the franchise ratio has increased to 62% from 14% in 2016, reflecting progress toward a more scalable model.
The Jollibee Group was named to TIME's 100 Most Influential Companies of 2026 and included in Fortune's Southeast Asia 500 list. It also received the 3G Excellence in Sustainability Reporting Award for the second consecutive year and achieved LEED Gold certification for its Danao commissary, the first manufacturing facility in the Philippines to receive such recognition.
