From Mc to Burger King, the fast food market continues to grow in the first quarter

Revenues increased 9% to USD 6.52 billion compared to USD 5.96 billion in the same period of 2025, or +4% net of exchange rate effect. Operating profit rose 12% to $2.95 billion (+6% at constant exchange rates), while net profit reached $1.98 billion, up 6% (+1% at constant exchange rates).

Diluted earnings per share stood at $2.78, up 7% from $2.60 a year earlier (+2% at constant exchange rates). The group benefited from resilient global demand and solid performance in major international markets, despite a still selective macroeconomic environment.

The US group reported a 3.8% increase in global comparable sales for the quarter ended 31 March, with consistent performance across all major operating areas. In the US, sales grew 3.9%, the same pace as in directly managed international markets, while international markets under licence and development increased 3.4%. Systemwide sales reached over $34 billion in the quarter, up 11% year-on-year, or 6% at constant exchange rates. At the same time, consolidated revenues increased by 9%, or 4% at constant exchange rates.

Profitability also showed improvement. Consolidated operating profit grew by12% (+6% at constant exchange rates), despite the impact of pre-tax charges of USD 47 million mainly related to the 'Accelerating the Organisation' restructuring plan. Excluding these extraordinary items, operating profit increased by 11%.

Since the beginning of the year, the stock has a negative balance of 9%.

Restaurant Brands International opened 2026 with growing results, buoyed mainly by the recovery of Burger King and the strength of the group's other brands. In the first quarter, revenues rose to $2.264 billion, up 7.35% from the same period last year, while earnings per share almost doubled from $0.49 to $0.97.

Overall comparable sales grew 3.2%, with Burger King USA up 5.8%, driven by the strengthening of its value offering and the initiatives of the 'Reclaim the Flame' relaunch plan. The group also continues to benefit from international expansion and digital growth, with a focus on delivery and loyalty programmes.

Stocks on Wall Street performed positively, gaining more than 17% since the beginning of the year.

Chipotle Mexican Grill grows thanks to digital

Chipotle Mexican Grill closed Q1 2026 with revenue growth but a decline in profitability, according to figures as of 31 March. Revenues rose7.4% to $3.1 billion, buoyed by new openings and a slight increase in comparable sales (+0.5%), with traffic up 0.6% and average receipt down slightly. Digital sales accounted for 38.6% of the total. During the period, 49 new restaurants were opened, of which 42 with the Chipotlane format.

However, profitability declined: the operating margin fell to 12.9% from 16.7%, while the restaurant-wide operating margin dropped to 23.7% from 26.2%, penalised by higher commodity inflation and labour costs. Net profit fell to $302.8 million ($0.23 per share) from $386.6 million ($0.28) a year earlier.

The strategy focused on innovation, operational efficiency and digitalisation has enabled the company to maintain high margins despite rising labour and raw material costs. Chipotle, whose stock has dropped 13% since the beginning of the year, is also continuing its network expansion plan with new openings in the US and abroad.

Yum! Brands kicked off 2026 with growing quarterly results, buoyed by Taco Bell's strong performance, KFC's international expansion and the continued development of its digital channel. For the first quarter ended 31 March, the US group reported GAAP earnings per share (EPS) of $1.55, while adjusted EPS, net of extraordinary items, came in at $1.50, up 15% year-on-year.

Global system sales grew by6% at constant exchange rates, confirming the good operating performance of the group's main brands. Yum! also accelerated network expansion, with a 5% increase in the total number of restaurants and 1,030 gross new openings realised in the quarter. GAAP operating profit increased by 17%, while Core Operating Profit grew by 6%. Also contributing to the results was the favourable foreign exchange effect, which had a positive impact of $25 million on divisional operating profit.

Digital continues to be one of the group's main growth drivers. Digital system sales approached USD 11 billion in the quarter, reaching a record level of 63% of total sales. Excluding Pizza Hut, system sales grew by 7% at constant exchange rates, while Core Operating Profit increased by 10%.

CEO Chris Turner emphasised the strength of global demand for the group's brands, highlighting in particular the performance of Taco Bell, which recorded 8% growth in comparable sales, well above the quick service restaurant industry average. According to Turner, the combination of brand strength, favourable consumer trends and investment in technology and artificial intelligence will continue to underpin the group's growth in the coming quarters.

Wingstop continued its strong expansion path in the first quarter, benefiting from growing demand in the chicken segment and accelerating openings. Quarterly revenues increased 7.4% to $183.7 million, while Adjusted EBITDA rose to approximately $65 million.

The group realised 97 net new restaurant openings in the quarter, confirming one of the highest expansion rates in the industry. The company also continues to focus on international growth and the digital channel, which now accounts for a predominant share of total orders.

Stocks since the beginning of the year have been travelling at the same levels as at the close of 2025.

The Wendy's Company reported mixed results for the quarter ended March, reflecting weaker demand in the US market. Revenues grew 3.3% to $540.6 million, while net income fell to $22.7 million. Global system sales stood at $3.2 billion, down 5.5%, hurt mainly by lower consumer frequency in US restaurants.

Despite the slowdown, the company confirmed its annual guidance and continues to focus on international expansion, announcing a deal to open up to 1,000 new restaurants in China over the next few years. Wendy's is also accelerating its digital ordering and drive-thru expansion.

The share price on Friday on the occasion of the release of the quarterly data advanced by 5%, but the balance since the beginning of the year remains negative by more than 10%.