BBB Foods reported strong top-line momentum for the second quarter of 2026, with total revenue increasing 38.7% year-over-year to Ps. 26,037 million, surpassing analyst expectations. This growth was primarily driven by a robust 20.0% increase in same-store sales and the addition of 155 net new stores, bringing the total store count to 3,624. While revenue exceeded targets, the company recorded a net loss of Ps. 386 million, largely due to a 143.8% increase in non-cash share-based compensation expenses.
Key Highlights
- Total revenue rose 38.7% YoY to Ps. 26,037 million, outperforming the $1.42 billion USD estimate (approx. Ps. 24.8 billion).
- Same-store sales (SSS) growth reached 20.0%, significantly exceeding the estimated range of 13% to 16%.
- Adjusted EBITDA (excluding share-based payments) increased 43.8% to Ps. 1,575 million, with margins expanding 21 basis points to 6.1%.
- Gross margin improved by 54 bps to 16.8%, driven by stronger commercial margins and lower transportation costs as a percentage of revenue.