BBB Foods, Inc. Class A ( (TBBB) ) has released its Q3 earnings. Here is a breakdown of the information BBB Foods, Inc. Class A presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
BBB Foods, Inc., trading as Tiendas 3B, is a prominent grocery hard discounter in Mexico, offering budget-conscious consumers high-quality products at competitive prices. The company is recognized for its rapid expansion and notable growth within the retail sector.
In its latest earnings release for the third quarter of 2024, Tiendas 3B reported strong financial results, highlighting significant growth in both revenue and profitability. The company successfully opened 131 new stores in the quarter, bringing the total to 2,634, and achieved a 29.8% increase in total revenue compared to the same period last year.
Key financial metrics showcased impressive performance with EBITDA rising by 54% to Ps. 688 million and net profit reaching Ps. 258 million, a substantial turnaround from a net loss in the third quarter of 2023. The growth in revenue was bolstered by a 11.6% increase in same-store sales and the continuous addition of new stores, demonstrating the effectiveness of its expansion strategy.
Tiendas 3B’s commitment to expanding its footprint, coupled with disciplined execution and a focus on providing value, positions it well for future growth. The company remains optimistic about sustaining its momentum and delivering long-term value to stakeholders.
