BBB Foods Inc. Reports 2Q24 Earnings

TL;DR

TBBB dropped its Q2 earnings today, check the numbers.

AI Summary

BBB Foods Inc. (NYSE: TBBB), a grocery hard discounter in Mexico, announced its financial results for the second quarter of 2024 on August 21, 2024. The company, also known as Tiendas 3B, operates in the retail-grocery stores sector.

Why It Matters

This filing provides investors with the latest financial performance data for BBB Foods Inc., a key player in the Mexican grocery market, allowing for assessment of its growth and profitability.

Risk Assessment

Risk Level: low — The filing is a routine earnings release and does not contain significant new risks.

Key Players & Entities

• BBB Foods Inc. (company) — Registrant
• Tiendas 3B (company) — Company name
• TBBB (company) — Ticker symbol
• August 21, 2024 (date) — Date of earnings release
• 2024 (date) — Reporting period

FAQ

Filing Documents

• earnings_release_2q24.htm (6-K) — 478KB
• img114871823_0.jpg (GRAPHIC) — 69KB
• img114871823_1.jpg (GRAPHIC) — 13KB
• img114871823_2.jpg (GRAPHIC) — 1KB
• img114871823_3.jpg (GRAPHIC) — 16KB
• 0000950170-24-099520.txt ( ) — 616KB

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. Please refer to our annual report on Form 20-F for the year ended December 31, 2023 filed with the U.S. Securities Exchange Commission (the “SEC”), as well as any subsequent filings made by us with the SEC, each of which is available on the SEC’s website ( www.sec.gov ), for a more extensive discussion of the risks and other factors that may impact any forward-looking

Financial Statements

Financial Statements Consolidated Income Statement (Unaudited) For the three months ended June 30, 2024 and June 30, 2023 (In thousands of Mexican pesos) For the Three Months Ended June 30, 2024 2023 % Change Revenue From Sales of Merchandise Ps.13,550,402 Ps.10,624,938 27.5% Sales of Recyclables 23,945 20,842 14.9% Total Revenue 13,574,347 10,645,780 27.5% Cost of Sales (11,302,030) (8,927,904) 26.6% Gross Profit Ps. 2,272,317 Ps. 1,717,876 32.3% Gross Profit Margin 16.7% 16.1% Sales Expenses (1,414,329) (1,159,667) 22.0% Administrative Expenses (486,204) (333,455) 45.8% Other Income - Net 2,663 (2,195) n.m. Operating Profit Ps. 374,447 Ps. 222,559 68.2% Operating Profit Margin 2.8% 2.1% Financial Income 41,354 8,296 398.5% Financial Costs (276,257) (343,956) (19.7%) Exchange Rate Fluctuation 303,796 256,841 18.3% Financial Cost - Net 68,893 (78,819) n.m. Loss Before Income Tax 443,340 143,740 208.4% Income Tax Expense (112,085) (72,690) 54.2% Net Profit for the Period Ps. 331,255 Ps. 71,050 366.2% Net Profit Margin 2.4% 0.7% Basic Earnings per Share 2.95 0.84 Weighted Average Outstanding Shares 112,200,752 84,150,261 EBITDA Reconciliation Net Profit for the Period Ps. 331,255 Ps. 71,050 366.2% Net Profit Margin 2.4% 0.7% Income Tax Expense 112,085 72,690 54.2% Financial Cost - Net 68,893 (78,819) n.m. D&A 314,159 258,192 21.7% EBITDA Ps. 688,606 Ps. 480,751 43.2% EBITDA Margin 5.1% 4.5% 12 Earnings Release 2Q24 Consolidated Income Statement (Unaudited) For the six months ended June 30, 2024 and June 30, 2023 (In thousands of Mexican pesos) For the Six Months Ended June 30, 2024 2023 % Change Revenue From Sales of Merchandise Ps. 26,207,287 Ps. 20,295,007 29.1% Sales of Recyclables 51,308 42,673 20.2% To

View Full Filing

View this 6-K filing on SEC EDGAR