JOLLIBEE Foods Corp. posted a record quarterly profit in the second quarter even as it lowered its full-year same-store sales and new-store opening targets amid a still volatile cost environment.
The Jollibee Group on Tuesday reported that net income attributable to equity holders of the parent company (NIAT) reached P3.4 billion for the April-to-June period, up 5.7 percent from a year earlier and 130.5 percent higher quarter on quarter.
System-wide sales reached P130.8 billion, up 14.2 percent from the previous year’s P114.5 billion, while revenues grew 10.7 percent to P85.9 billion from P77.6 billion.
International operations led the growth with a 25.4-percent increase in system-wide sales, compared with 5.7 percent for the Philippine business.
Same-store sales rose 2.7 percent during the quarter, with international operations posting 4.4-percent growth and the Philippine business gaining 1.3 percent.
The group said pricing actions introduced in April, together with productivity, sourcing and cost-discipline measures, helped improve profitability during the quarter.
“The second quarter represents an important step forward in our earnings momentum,” Jollibee Group Chief Financial and Risk Officer Richard Shin said.
Gross profit margin improved to 18.5 percent in the second quarter from 16.5 percent in the first three months of 2026, while operating income margin rose to 7.2 percent from 5.2 percent. NIAT margin nearly doubled to 4 percent from 1.9 percent.
Jollibee said it expected underlying sales momentum to remain resilient for the rest of the year, adding it was maintaining its guidance for system-wide sales growth of 8 percent to 12 percent and store network growth of 5 percent to 10 percent.
Full-year same-store sales growth guidance was updated to 3 to 4 percent, with the new gross store opening target also revised to 1,000 to 1,100 locations.
For the first half of 2026, Jollibee said NIAT reached about P6 billion from P5.66 billion a year earlier. It said the stronger second-quarter performance helped lift earnings after a weaker start to the year.
Jollibee said its revised outlook also reflected continued transition costs related to its China operations and Smashburger as it shifts the businesses toward more predominantly franchised models.
The group incurred P239 million in transition-related costs in the second quarter from store closures and lease termination expenses.
Jollibee ended the first half with 10,767 stores worldwide, up 6.4 percent from a year earlier. It opened 461 stores during the period and added 172 stores through the acquisition of Shabu All Day, while closing 207 locations.
In the Philippines, Jollibee’s system-wide sales grew 5.7 percent, led by Mang Inasal’s 10.7-percent increase and Jollibee’s 6.6-percent growth.
Internationally, Highlands Coffee posted 46.7-percent system-wide sales growth, followed by Compose Coffee at 39.7 percent, Tim Ho Wan at 23 percent, and Jollibee North America at 21.6 percent.
Jollibee Group CEO Ernesto Tanmantiong said the results reflected continued consumer demand across the group’s markets.
“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,” he said.
The company also lowered its 2026 capital expenditure guidance to P13 billion to P15 billion, and revised its operating income growth guidance to 10 percent to 15 percent.
Jollibee said the changes took into account updated same-store sales and expansion assumptions as well as the continued transition costs in China and Smashburger.
JFC shares climbed P7.50, or 5.05 percent, to close at P156.00 each on Tuesday.
