Q3 2025 Bbb Foods Inc Earnings Call Transcript
Key Points
- BBB Foods Inc (TBBB) reported a significant increase in total revenues by 36.7% year over year, reaching MXN20.3 billion.
- The company opened 131 net new stores in the quarter, bringing the total to 3,162 stores, and opened two new distribution centers, totaling 18.
- Same-store sales grew impressively by 17.9%, driven by continuous improvements in the value proposition to customers.
- Cash flow generated by operating activities increased by 30% year over year, reaching MXN3 billion.
- The company maintains a strong net cash position of approximately MXN1.1 billion, with an additional $151 million in short-term deposits.
- EBITDA reported a loss of MXN404 million, although it increased by 43.6% to a positive MXN1.2 billion when excluding noncash share-based payments.
- Sales expenses as a percentage of revenue increased slightly from 10.1% to 10.2%, with a noted increase in D&A expenses.
- Admin expenses, excluding share-based payments, increased by 16 basis points due to investments in new regions and hiring more talent.
- The company faces ongoing challenges with operational leverage due to the rapid pace of store openings, with close to 50% of stores opened in the past three years.
- There is volatility in quarter-to-quarter margins, making it difficult to provide specific guidance on future margin trends.
Good morning, everyone. My name is Danielle, and I will be your conference operator. Welcome to the Tiendas 3B third-quarter 2025 conference call. (Operator Instructions) Also, please note that this call is for investors and analysts only. Questions from the media will not be taken nor should the call be reported on.
Any forward-looking statements made during this conference call are based on information that is currently available to us. Today, we are joined by Tiendas 3B's Chairman and Chief Executive Officer, Anthony Hatoum; and Chief Financial Officer, Eduardo Pizzuto.
I will now turn the call over to Anthony. Please go ahead.
Good morning, everyone, and thank you for joining Tiendas 3B's third-quarter earnings call. I will begin with a review of our operating results for the quarter and will be followed by our CFO, Eduardo Pizzuto, who will provide an overview of our financial performance. We will conclude with a Q&A session.
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