Jollibee Foods (JFC) Q1 2026 earnings summary

Executive summary

• Revenues reached ₱113.9 billion, up 10.3% year-over-year, with robust system-wide sales growth across all 19 brands and markets in Q1 2026.

• Net income after tax declined 38.8% to ₱1.5 billion, with net income margin dropping to 1.8% due to margin compression from elevated input costs.

• Operating income was ₱3.95 billion, down 18.2% year-over-year, impacted by higher direct costs and increased expenses.

• Opened 181 new stores, expanding the global footprint to 10,421 outlets across 33 countries.

• Coffee and tea brands, especially Compose Coffee and Tim Ho Wan, led international expansion.

Financial highlights

• System-wide sales grew 10.3% year-over-year, with international system-wide sales up 13.5% and Philippines up 8%.

• Gross profit margin declined to 16.3% in the Philippines and 16.5% globally, mainly due to inventory cost increases.

• EBITDA was ₱9.3 billion, down 4.9% year-over-year; regular cash dividend of ₱1.33/share declared and paid from organic cash flows.

• Basic EPS dropped 40.4% to ₱1.234; return on equity was 7.5%, down from 13.1% last year.

Outlook and guidance

• Scheduled price increases and cost containment plans implemented starting April to address margin compression.

• Management is reassessing full-year guidance, to be disclosed by Q2; expect improved margins and operating leverage in the second half as price increases take effect.

• Store network growth target for the year is 1,200 to 1,300 new stores, with continued franchise acceleration.

• Committed to ₱2.8 billion in cost savings over the next three quarters.