Listed Shakey’s Pizza Asia Ventures Inc. reported a healthy turnaround in its core earnings for the third quarter of 2026, marking clear progress from the company’s ongoing strategic reset efforts. Core net income after tax rose 11 percent year-on-year and jumped 51 percent compared with the previous quarter, excluding one-off restructuring costs mainly from streamlining its Peri-Peri Charcoal Chicken network.
The company said the results reflect early gains from measures put in place this year to boost value for customers, manage rising costs, and strengthen its finances amid softer consumer spending. Systemwide sales reached ₱6.8 billion in the July-to-September period, up 11 percent from a year earlier, bringing total sales for the first nine months to ₱19.8 billion, or 12 percent higher year-on-year. Revenues for the third quarter stood at ₱4.2 billion, up 13 percent, while nine-month revenues reached ₱12.4 billion, up 10 percent.
Same-store sales grew 3.5 percent in the third quarter, an improvement from flat growth recorded in the first half, supported by value-focused promotions and measured price adjustments that remained below inflation levels. As of end-September, the group operated 3,106 stores and outlets worldwide, adding 136 net new locations in the first nine months of the year, including 32 in the third quarter.
Gross margin improved sequentially to 21.2 percent in the third quarter, rising by 100 basis points from the preceding quarter, helped by supply chain efficiencies and better cost management. Operating expenses as a share of sales also edged down to 13.9% from the previous quarter. Including non-recurring restructuring charges, headline net income after tax came in at ₱75 million for the third quarter and ₱306 million for the first nine months, though core earnings—which strip out these one-time costs—recovered strongly to ₱247 million in the third quarter.
The company also maintained healthy cash positions, generating ₱1.6 billion in operating cash flow and ₱1.1 billion in free cash flow through the first nine months of the year. Vicente Gregorio, SPAVI president and chief executive officer, described 2026 as a “reset year” designed to lay the groundwork for sustainable growth, adding that early momentum heading into the final quarter supports confidence in finishing the year on a strong note.
