The Jollibee Group, one of the world's fastest-growing restaurant companies, reported record second-quarter earnings for 2026, underscoring its resilience and strategic momentum. Net income attributable to equity holders of the parent company rose 5.7% year over year to Php3.4 billion (approximately US$55 million), marking the highest quarterly net income on record. This performance reflects a clear margin recovery from first-quarter cost pressures, supported by controlled pricing actions and improved operating leverage.
System-wide sales increased 14.2% year over year, driven by sustained demand across the company's Philippine and international businesses. Consolidated revenues grew 10.7% to Php85.9 billion (approximately US$1.4 billion). The company attributed the growth to its diverse global brand portfolio, which includes Jollibee, Chowking, Red Ribbon, Smashburger, The Coffee Bean & Tea Leaf, and Tim Ho Wan, among others.
North America emerged as a key growth driver, with Jollibee's system-wide sales surging 21.6% and same-store sales growing 8.6%. Smashburger also delivered 7.0% same-store sales growth, reflecting continued momentum across the Group's North American portfolio. In a significant development, the company announced plans to expand its Jollibee brand in Canada, adding 26 new locations in British Columbia and Edmonton. These additions, on top of the existing 28 restaurants, would nearly double Jollibee's Canadian network over the next five years, laying the foundation for further expansion across the country.
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 sequential recovery from the first quarter was also notable. Consolidated revenues increased 12.2% versus Q1 2026, driving a 25.3% increase in gross profit, a 56.1% increase in operating income, and a 130.5% increase in net income. Gross profit margin improved to 18.5% in Q2 from 16.5% in Q1, with operating income margin rising to 7.2% from 5.2%. By June, operating income margin had reached 9.1%, providing a stronger exit rate entering the second half of the year.
Richard Shin, Chief Financial and Risk Officer, commented, "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, the international segment expanded by 25.4% in system-wide sales, led by strong performances from Highlands Coffee (+46.7%), Compose Coffee (+39.7%), and Jollibee in Europe, Middle East, Asia, and Australia (+25.3%). The Philippine business also delivered growth, with system-wide sales increasing 5.7%, supported by Mang Inasal (+10.7%) and Jollibee (+6.6%).
The company'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 company continued to advance its sustainability agenda, receiving the 3G Excellence in Sustainability Reporting Award for the second consecutive year and achieving LEED Gold certification for its Danao commissary.
Looking ahead, the Jollibee Group maintains its guidance for system-wide sales growth of 8%-12% and store network growth of 5%-10%. However, it revised its same-store sales growth guidance to 3%-4% and updated its capital expenditure range to Php13.0 billion to Php15.0 billion. Operating income growth guidance is now 10%-15%, reflecting updated assumptions and continued transition costs for certain brands.
The company's strategic focus on international expansion, particularly in North America, and its commitment to portfolio optimization position it well for sustained long-term growth. Recent developments in Canada, Vietnam, and China illustrate the Group's ability to pursue high-quality growth across diverse markets.
