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Jollibee Foods (JBFCF) Q3 2026 Earnings Report

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JBFCF Q3 2026 EPS Results

Actual EPS
$0.05
Consensus EPS
―
Beat/Miss
―
One Year Ago EPS
$0.05

JBFCF Q3 2026 Revenue Results

Actual Revenue
$1.42B
Expected Revenue
―
Beat/Miss
―
YoY Revenue Growth
+5.99%

Earnings Announcement Details

Quarter
Q3 2026
Date
11/10/2026
Time
Before Open
Conference Call
Tuesday, November 10, 2026
JBFCF Upcoming Earnings

Jollibee Foods's next earnings date is estimated for March 18, 2027, based on past reporting schedules.

Q3 2026 Earnings Call Audio

JBFCF Q3 2026 Earnings Call
0:00 / 0:00

Q3 2026 Earnings Slide Deck

Q3 2026 Earnings Call Summary

Q3 2026
Earnings Call Date:Nov 10, 2026|% Change Since:-2.86%|
Earnings Call Sentiment|Positive

The call was strongly positive, with broad-based double-digit system-wide sales growth, accelerating revenue, gross margin expansion, improved adjusted profitability, strong performance across the Philippines, North America, Vietnam and Thailand Coffee, and continued progress on franchising and international expansion. The main challenges were ongoing international bottom-line losses, restructuring and closures at selected businesses, one-off spin-off costs, commodity pressures and a slower store-opening pace in Compose Coffee. Management remained confident in the sustainability of the margin recovery and expected Q4 to be the strongest quarter.

Company Guidance

Management said operating income will be “around the range of 10%” for the year, with Q4 expected to be “our strongest quarter,” and Q4 will close the year “within the guidance that we've given last time”; adjusted operating margin was expected at 7% versus last year's 6.8%, with NIAT “up 10 basis points versus last year.” Jollibee North America remains committed to “5x to 500 stores by 2030,” with “over 100” stores in the pipeline, while Compose Coffee expects “somewhere around 270 to 300 stores this year” and “another 60 to 90 to go for Q4 balance”; China is targeted to reach “somewhere around 850 stores” and “90% franchised” by “2028 end,” which management calls a “pivotal year,” and the international business is expected to turn around by then.

  • Strongest 2026 Quarterly Top- and Bottom-Line GrowthQ3 system-wide sales reached PHP 133 billion, up 15.6%, while same-store sales grew 4.7%, including a 3.8% contribution from average check and 0.9% traffic growth. International system-wide sales increased 19.1% and Philippines system-wide sales increased 12.5%.
  • Revenue and Gross Profit AccelerationRevenue growth reached 14.9% in Q3, the strongest quarter of the year, with revenue just under PHP 88 million as stated on the call. Gross profit was PHP 16.3 billion, up 16%, and gross profit margin was 18.6%, 20 basis points higher than the same period last year.
  • Operating Income and Adjusted NIAT GrowthStatutory operating income increased 11% to PHP 5.7 billion, with operating margin at 6.6%. Management-adjusted operating income increased 17.7% to approximately PHP 6.1 billion. Statutory NIAT was PHP 3.3 billion, up 7.4%, while management-adjusted NIAT was PHP 3.6 billion, up 19.4%.
  • Nine-Month Momentum Improved SequentiallyRevenue growth accelerated from 9% in Q1 to 10.7% in Q2 and 14.9% in Q3. Nine-month revenue growth reached 11.6%, while the operating income decline narrowed to minus 1.3% and NIAT losses were significantly reduced.
  • Broad-Based International and Philippine GrowthJollibee Vietnam, Thailand Coffee, other parts of India and China delivered strong double-digit growth. North America system-wide sales increased 13.6%, while the Philippines increased 12.5%. Management said growth was coming from pretty much throughout all of the businesses.
  • EBITDA Increased with International ContributionGroup EBITDA reached PHP 12.1 billion, nearly 10% higher year over year, with the contribution mix at approximately 60% Philippines and 40% international. Philippines EBITDA was PHP 7.2 billion, up 9.1%, while Shabu All Day contributed 2% of group EBITDA and was described as profitable.
  • Philippines Margin Expansion and Network GrowthPhilippines system-wide sales increased 12.5% to PHP 67.7 billion, same-store sales grew 6.7%, and operating margin reached 9%, 40 basis points higher than the same quarter last year. The Philippines network reached 3,530 stores, with 43 openings in Q3 and 85 openings since January.
  • Philippines Pricing, Procurement and Efficiency ProgramsManagement attributed Philippines margin expansion to strategic pricing across selected SKUs, procurement and supply-chain execution, locked-in pricing for domestically procured chicken, and approximately 50 efficiency programs covering logistics, warehousing and other areas.
  • Jollibee International GrowthJollibee International system-wide sales increased 23.5%, same-store sales grew 4.3%, and the network increased 13.2%, including North America growth of just under 5% and EMEA growth of 15.7%.
  • North America Performance and Franchise PipelineNorth America system-wide sales increased 18.9%, exceeding the company's internal target, while nine-month growth was 17.3%. Same-store sales increased 4.1%, driven by 1.4% traffic growth and 2.7% average check growth. North America EBITDA increased 13.3%. The franchise pipeline exceeded 100 stores, described as over 108 stores, and the company reiterated its target of 500 stores by 2030.
  • Vietnam and EMEA ExpansionVietnam system-wide sales increased 48% year over year, with same-store sales growth of nearly 20% and 276 stores. Management said the business was clear number one in network, market share, revenue and profit, and expected to exceed 300 stores fairly soon. EMEA excluding Vietnam increased 25.6%, while Southeast Asia grew 13%, the Middle East 14.7%, Guam 16% and Europe 11.3%.
  • China Recovery and Franchise TransitionChina system-wide sales increased 18% despite store closures, and quarterly EBITDA was PHP 206 million. Same-store sales improved by 5.7% quarter over quarter as the dine-in segment recovered. The business had 101 gross new stores year to date and 547 stores, and management was moving toward approximately 70% franchised stores by year-end.
  • Compose Coffee Growth and Store ExpansionCompose Coffee delivered 8% same-store sales growth in September after flat performance in July and August, which management compared with a government subsidy program and unusually high prior-year comparisons. Nine-month system-wide sales increased 20%, 223 stores were opened during the year, and management planned another 60 to 90 openings in Q4.
  • Thailand Coffee Leadership and GrowthThailand Coffee nine-month system-wide sales increased 38%, while Q3 system-wide sales increased 40.7%. Same-store sales grew 5.7%, ahead of the market norm. The network reached 1,117 locations after 154 openings in the first nine months, and market share was 31% where measured.
  • Asset-Light Network ExpansionThe group reached nearly 11,000 stores, with approximately 70% franchised. About 88% of new stores opened during the recent quarter were franchised. The company added 917 locations in the first nine months, including 172 Shabu All Day stores, with two-thirds outside the Philippines.
  • Smashburger Franchise and Nontraditional PipelineSmashburger had 31 new franchise units in the pipeline, including 28 nontraditional and three traditional units. The pipeline also included three committed openings, seven airport requests for proposals and 10 contracted food-service opportunities in final negotiations. Target locations include airports, colleges, casinos, military bases and travel centers.
  • Shabu All Day Acquisition and Store OptimizationShabu All Day was acquired at a stated three-times EBITDA multiple and was described as a profitable business and strategic bolt-on. The company reduced the network from 172 to 147 stores to address cannibalization, and management cited a 60% increase at an example remaining store after closure of nearby locations.
  • Capital Expenditure Reduction and Franchise FundingYear-to-date capital expenditure was PHP 9.1 billion, approximately PHP 1 billion lower than the prior year. Management said future network growth would increasingly be funded through franchising, while earlier investments in POS systems, apps and self-ordering kiosks were beginning to come down.
  • Sustainable Margin Recovery and Q4 OutlookManagement said the Q3 margin recovery was sustainable and was not artificially inflated, citing continued growth in key markets, coffee growth and China recovery. October showed a very solid same-store sales trend, Q4 was expected to be the strongest quarter, and the company expected to close the year within previously provided guidance.
  • International Spin-Off ProgressThe planned separate listing of the international business remained on track for late 2027. Management said it would seek formal approvals and proceed within the timeline.
  • Highlands Coffee Growth InvestmentManagement said Highlands Coffee was continuing to invest in new store openings and brand development ahead of a potential IPO, most likely in the first half of the following year. The company also reported an intention to sell 11% of Highlands Coffee, with the transaction expected to conclude in Q3 and generate a favorable gain relative to book value.

JBFCF Earnings History

JBFCF earnings history
Report DateFiscal QuarterForecast / EPSLast Year's EPSEPS YoY ChangePress Release
Mar 18, 20272026 (Q4)―-0.03――
Nov 10, 20262026 (Q3)―0.050.050.00% (+0.00)
Aug 11, 20262026 (Q2)―0.050.05-4.00% (-0.00)
May 15, 20262026 (Q1)―0.020.04-41.67% (-0.01)
Mar 11, 20262025 (Q4)―0.030.0318.52% (+0.01)
Nov 14, 20252025 (Q3)―0.050.049.52% (+0.00)
Aug 13, 20252025 (Q2)―0.050.0411.11% (+0.01)
May 13, 20252025 (Q1)―0.040.04-10.00% (-0.00)
Mar 14, 20252024 (Q4)―0.030.03-6.90% (-0.00)
Nov 12, 20242024 (Q3)―0.040.0413.51% (+0.01)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat Missed