BBB Foods Inc. (TBBB) Q3 2025 Earnings Call Transcript
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 20 2025
0mins
Should l Buy TBBB?
Source: SeekingAlpha
Net new stores opened 131 net new stores opened in the quarter, totaling 3,162 stores. This is part of a larger trend of increasing store openings, with 390 stores opened in the first 9 months of 2025 compared to 346 stores in the same period last year.
Distribution centers 2 new distribution centers opened in the quarter, bringing the total to 18.
Same-store sales growth Same-store sales grew by 17.9% year-over-year, driven by continuous improvement in the value proposition to customers and increased consumer awareness.
Total revenues Total revenues increased by 36.7% year-over-year to reach MXN 20.3 billion, supported by strong same-store sales growth and rapid revenue growth.
EBITDA Reported a loss of MXN 404 million. However, excluding noncash share-based payments, EBITDA increased by 43.6% to reach a positive MXN 1.2 billion, driven by sales and margin growth as well as operational efficiency.
Cash flow from operating activities Cash flow generated by operating activities reached MXN 3 billion for the first 9 months of 2025, a 30% increase year-over-year.
Net cash position Ended the quarter with a net cash position of approximately MXN 1.1 billion, in addition to $151 million in short-term deposits.
Sales expenses as a percentage of revenue Increased slightly from 10.1% to 10.2%, influenced by real operational leverage and an increase in D&A expenses as a percentage of revenue.
Admin expenses (excluding share-based payments) Increased by 16 basis points due to investments in new regions and hiring more talent.
Negative working capital Negative working capital increased to MXN 7.8 billion in September 2025, compared to MXN 5.4 billion in the third quarter of 2024, excluding IPO proceeds. This represents roughly 10.8% of total revenue, excluding IPO proceeds.
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Analyst Views on TBBB
Wall Street analysts forecast TBBB stock price to rise
4 Analyst Rating
3 Buy
1 Hold
0 Sell
Strong Buy
Current: 33.680
Low
34.00
Averages
36.67
High
39.00
Current: 33.680
Low
34.00
Averages
36.67
High
39.00
About TBBB
BBB Foods Inc is a Mexico-based holding company. The Company, through its subsidiaries, is primarily engaged in the sale, acquisition, purchase, and distribution of all types of products, items and consumer goods. BBB Foods Inc is also involved in the operation of stores and distribution centers focused on the marketing and sale of such products. Its product range consists of approximately 800 stock keeping units (SKUs) of branded, private label and spot products. The Company directly owns two Scottish entities- BBB Foods Limited Partnership and Lothian Shelf Limited. Besides that, it also acts as a shareholder of such Mexican companies as: Tiendas Tres B, S. A. de C. V., Tiendas BBB, S. A. de C. V., and Desarrolladora Tres B, S. A. de C. V.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Accelerated Store Expansion: The company opened 574 net new stores in 2025, a 21% increase from 2024, bringing the total to 3,346, demonstrating a proactive strategy in retail network expansion aimed at increasing market share and customer reach.
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- Conference Call Invitation: The company invites investors to join the quarterly conference call on March 12, 2026, at 12:00 p.m. ET, hosted by Chairman and CEO Anthony Hatoum and CFO Eduardo Pizzuto, who will address questions regarding the earnings report.
- International Dial-In Information: The conference call will offer dial-in numbers for multiple countries, including dedicated lines for Mexico and the United States, ensuring global investors can easily participate and enhancing communication between the company and its investors.
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See More
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- Conference Call Invitation: The company invites investors to join the earnings conference call on March 12, 2026, at 12:00 p.m. ET, where CEO Anthony Hatoum and CFO Eduardo Pizzuto will discuss the results and answer questions.
- Webinar Access: Investors can join the conference via the provided Zoom link, ensuring they receive real-time updates on the company's financial performance and strategic direction.
- Company Overview: Tiendas 3B is a leading discount grocery retailer in Mexico, embodying the philosophy of
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- Market Impact: This increase may affect consumer purchasing decisions and overall market trends in the food industry.
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