BBB Foods Inc. Reports Q1 2024 Results

TL;DR

Tiendas 3B (TBBB) dropped Q1 2024 earnings, check the numbers.

AI Summary

BBB Foods Inc. (NYSE: TBBB), a grocery hard discounter in Mexico, announced its first quarter 2024 results on May 22, 2024. The company, also known as Tiendas 3B, is a leading player in the Mexican grocery market.

Why It Matters

This filing provides investors with the latest financial performance of BBB Foods Inc., a key player in the Mexican grocery sector, allowing them to assess the company's growth and profitability.

Risk Assessment

Risk Level: low — This is a routine earnings release filing with no immediately apparent negative or positive material events.

Key Players & Entities

• BBB Foods Inc. (company) — Registrant
• Tiendas 3B (company) — Company name
• TBBB (company) — Ticker symbol
• Mexico (location) — Country of operation
• May 22, 2024 (date) — Date of earnings release

FAQ

Filing Documents

• earnings_release_1q24.htm (6-K) — 369KB
• img114842032_0.jpg (GRAPHIC) — 48KB
• img114842032_1.jpg (GRAPHIC) — 1KB
• img114842032_2.jpg (GRAPHIC) — 16KB
• 0000950170-24-063626.txt ( ) — 460KB

forward-looking statements

forward-looking statements This release includes forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. We base these forward-looking statements on our current beliefs, expectations and projections about future events and trends affecting our business and our market. Many important factors could cause our actual results to differ substantially from those anticipated in our forward-looking statements. Forward-looking statements are not guarantees of future performance. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or to revise any forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this release. The words “believe,” “may,” “should,” “aim,” “estimate,” “continue,” “anticipate,” “intend,” “will,” “expect” and similar words are intended to identify forward-looking statements. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, capital expenditures, financing plans, competitive position, industry environment, potential growth opportunities, the effects of future regulation and the effects of competition. Considering these limitations, you should not make any investment decision in reliance on forward-looking statements contained in this release. 9 Earnings Release 1Q24 About TIENDAS 3B BBB Foods Inc. (Tiendas 3B), a proudly Mexican company, is a pioneer and leader of the grocery hard discount model in Mexico and one of the fastest growing retailers in the country as measured by it

Financial Statements

Financial Statements Consolidated Income Statement (Unaudited) For the three months ended March 31, 2024 and March 31, 2023 (In thousands of Mexican pesos) For the Three Months Ended March 31, 2024 2023 % Change Revenue From Sales of Merchandise Ps. 12,656,885 Ps. 9,670,069 30.9% Sales of Recyclables 27,363 21,831 25.3% Total Revenue 12,684,248 9,691,900 30.9% Cost of Sales (10,622,075) (8,186,852) 29.7% Gross Profit 2,062,173 1,505,048 37.0% Gross Profit Margin 16.3% 15.5% Sales Expenses (1,295,629) (1,052,793) 23.1% Administrative Expenses (445,948) (325,342) 37.1% Other Income - Net 2,633 5,752 (54.2%) Operating Profit 323,229 132,665 143.6% Operating Profit Margin 2.5% 1.4% Financial Income 20,505 4,826 324.9% Financial Costs (360,868) (365,385) (1.2%) Exchange Rate Fluctuation (128,652) 292,748 (143.9%) Financial Cost - Net (469,015) (67,811) 591.7% Loss Before Income Tax (145,786) 64,854 (324.8%) Income Tax Expense (85,076) (6,022) 1,312.8% Net Loss (Income) for the Period Ps. (230,862) Ps. 58,832 (492.4%) Net Profit Margin (1.8%) 0.6% EBITDA Reconciliation Net Loss (Income) for the Period Ps. (230,862) Ps. 58,832 (492.4%) Net Profit Margin (1.8%) 0.6% Income Tax Expense (85,076) (6,022) 1,312.8% Financial Cost - Net (469,015) (67,811) 591.7% D&A 302,542 263,629 14.8% EBITDA Ps. 625,771 Ps. 396,294 57.9% EBITDA Margin 4.9% 4.1% 11 Earnings Release 1Q24 Consolidated Balance Sheet (Unaudited) As of March 31, 2024 and December 31, 2023 (In thousands of Mexican pesos) As of March 31, As of December 31, 2024 2023 Current assets: Cash and cash equivalents Ps. 4,292,958 Ps. 1,220,471 Sundry debtors 44,691 11,020 VAT receivable 770,209 731,186 Other recoverable taxes 17,777 - Advanced payments 86,542 72,9

View Full Filing

View this 6-K filing on SEC EDGAR