BBB FOODS (TBBB) Company Report

Tiendas 3B reported a 36.7% increase in total revenues, reaching MXN 20.3 billion for Q3 2025, driven by a 17.9% growth in same-store sales.
The company continued its expansion, opening 131 net new stores in Q3 2025, bringing the total to 3,162 stores, and added two new distribution centers, totaling 18.
Adjusted EBITDA, excluding non-cash share-based payments, increased by 43.6% to a positive MXN 1.2 billion in Q3 2025.
For the first nine months of 2025, cash flow generated by operating activities reached MXN 3 billion, a 30% increase year-on-year, with a net cash position of approximately MXN 1.1 billion at the end of Q3 2025.
Management anticipates continued strong same-store sales for the next couple of years and sees significant long-term growth potential, with room for up to 14,000 stores in Mexico.

Nov 20, 2025, 4:00 PM

Transcript

Tiendas 3B Reports Strong Q3 2025 Revenue and Store Growth

TBBB

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Tiendas 3B reported total revenues of MXN 20.3 billion for Q3 2025, an increase of 36.7% year-over-year, with same-store sales growing by 17.9%.
The company continued its rapid expansion, opening 131 net new stores in Q3 2025, bringing the total to 3,162 stores, and added two new distribution centers for a total of 18.
Reported EBITDA for Q3 2025 was a loss of MXN 404 million; however, excluding non-cash share-based payments, EBITDA increased by 43.6% to a positive MXN 1.2 billion.
For the first nine months of 2025, cash flow from operating activities reached MXN 3 billion, a 30% increase year-on-year, with a net cash position of approximately MXN 1.1 billion at quarter-end.
Management anticipates continued strong same-store sales growth for the immediate future and notes that newer store vintages are maturing faster with improved returns on invested capital.

Nov 20, 2025, 4:00 PM

Transcript

Tiendas 3B Reports Strong Q3 2025 Growth with Revenue Up 36.7%

TBBB

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Tiendas 3B reported a 36.7% increase in total revenues, reaching MXN 20.3 billion for Q3 2025, with same-store sales growing by 17.9%.
The company continued its expansion, opening 131 net new stores in Q3 2025, bringing the total to 3,162 stores, and added two new distribution centers, totaling 18.
EBITDA, excluding non-cash share-based payments, increased by 43.6% to a positive MXN 1.2 billion in Q3 2025.
For the first nine months of 2025, cash flow from operating activities reached MXN 3 billion, a 30% increase year-on-year, with a net cash position of approximately MXN 1.1 billion and $151 million in short-term deposits.

Nov 20, 2025, 4:00 PM

Transcript

TBBB Reports Q3 2025 Financial and Operational Results

TBBB

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

TBBB reported revenue of Ps. 20,279 million in Q3 2025, representing a 36.7% year-over-year growth.
The company continued its expansion, opening 131 net new stores in Q3 2025, bringing the total to 3,162 stores as of the end of the quarter.
Same Store Sales (SSS) grew by 17.9% in Q3 2025 compared to Q3 2024, significantly outpacing the ANTAD Self-Service market.
EBITDA ex. Share-Based Payment Expenses increased by 43.6% year-over-year to Ps. 1,170 million in Q3 2025, with the margin expanding by 28 bps to 5.8%.
Despite the growth in revenue and EBITDA ex-SBP, TBBB reported a net loss of Ps. 1,424,010 thousand for Q3 2025, resulting in a net loss margin of (7.0%), and EBITDA post-SBP was (Ps. 404 million).

Nov 20, 2025, 4:00 PM

Presentation

BBB Foods Inc. Reports Strong Revenue Growth and Store Expansion in Q3 2025, Posts Net Loss

TBBB

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

For the third quarter of 2025 (3Q25), BBB Foods Inc. reported total revenues of Ps. 20,279 million, an increase of 36.7% compared to 3Q24.
Same Store Sales grew 17.9% in 3Q25.
The company opened 131 net new stores during the quarter, reaching a total of 3,162 stores as of September 30, 2025.
EBITDA, excluding non-cash share-based payment expense, increased 43.6% year-over-year to Ps. 1,170 million in 3Q25.
BBB Foods Inc. recorded a net loss of Ps. 1,424 million for 3Q25, compared to a net profit of Ps. 258 million in 3Q24, largely influenced by a significant increase in non-cash share-based payment expense to Ps. 1,574 million.

Nov 19, 2025, 10:11 PM

6-K

Tiendas Tresbe Announces Strong Q2 2025 Results

TBBB

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Tiendas Tresbe reported strong financial results for Q2 2025, with total revenues increasing by 38.3% to 18.8 billion pesos and same store sales growing by 17.7%.
The company continued its rapid expansion, opening 142 net new stores in Q2 2025, bringing the total to 3,031 stores.
EBITDA increased by 22.5% to 844 million pesos, though the EBITDA margin was 4.5%, down 58 basis points, primarily due to higher logistics costs for four new regions and non-cash share-based payment expenses.
Cash flow generated by operating activities for the first semester of 2025 reached 1.9 billion pesos, a 56% increase compared to 2024.

Aug 13, 2025, 9:35 AM

BBB Foods Inc. Reports Q2 2025 Results

TBBB

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

BBB Foods Inc. reported total revenue of Ps. 18,770 million for 2Q25, representing a 38.3% increase compared to 2Q24.
EBITDA, excluding non-cash share-based payment expense, increased 32.1% year-over-year to Ps. 1,096 million in 2Q25.
The company recorded a net loss of Ps. 286 million for 2Q25, compared to a net gain of Ps. 331 million in 2Q24, primarily impacted by a foreign exchange loss of Ps. 234 million and increased financial costs.
Operational expansion continued with 142 net new stores opened during the quarter, bringing the total store count to 3,031 as of June 30, 2025, and Same Store Sales grew 17.7%.

Aug 11, 2025, 12:00 AM

6-K

Bbb Foods Inc Reports Q1 2025 Earnings Results

TBBB

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Strong store expansion: The company opened 117 net new stores this quarter (totaling 2,889 stores) and increased same store sales by 13.5%, reflecting accelerated growth compared to last year.
Robust revenue and EBITDA growth: Total revenues rose by 35% to reach MXN 17.1 billion, while EBITDA grew by 12.7% to MXN 705 million, alongside generating MXN 1.1 billion in operating cash flow and ending with a net cash position of approximately MXN 1.6 billion.
Focused investment in growth and efficiency: The company continues to invest in technology and new store openings, leveraging initiatives like stock-based compensation for talent retention and operational efficiency even as related expenses impact margins.

May 8, 2025, 4:01 PM

Transcript

BBB Foods Inc. Reports Q1 2025 Earnings Highlights

TBBB

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Store Expansion: Opened 117 net new stores in Q1 2025, bringing the total to 2,889 stores as of March 31, 2025.
Revenue Growth: Reported total revenue of Ps. 17,132 million, a 35.1% increase from Q1 2024.
Operational Performance: Achieved a 12.7% increase in EBITDA to Ps. 705 million and saw Same Store Sales grow by 13.5%.
Strategic Investments: Continued to invest in operational enhancements, including technology and distribution centers, to support future growth.

May 7, 2025, 12:00 AM

6-K

BBB Foods Inc Reports Q4 2024 and Full-Year 2024 Results

TBBB

Earnings

Guidance Update

Revenue Acceleration/Inflection

Q4 Performance: Revenue reached Ps. 16,347 million with a 32.7% increase and EBITDA rose by 51.1% to Ps. 845 million .
Full-Year Results: Total revenue was Ps. 57,439 million (MXN 57.4 billion) growing 30.3% year-over-year, with EBITDA increasing 51.2% to Ps. 2,847 million .
Store Expansion: The company opened 138 new stores in Q4 and 484 net new stores during 2024, raising the total to 2,772 stores .
Same-Store Sales Growth: Q4 same-store sales grew by 11.8%, while full-year figures also showed robust performance .
2025 Guidance: The outlook targets same-store sales growth of 11%-14%, total revenue growth of 26%-29%, and plans to open 500-550 new stores .