Key Highlights

● Second-quarter revenue rose 38.7 per cent year over year to Ps.26,037 million.

● Same-store sales growth reached 20.0 per cent, up from 17.7 per cent a year earlier.

● Adjusted EBITDA, excluding share-based pay, rose 43.8 per cent to Ps.1,575 million.

● The company ended June with 3,624 stores after 155 net openings in the quarter.

BBB Foods Inc. (NYSE:TBBB), the Mexican discount grocer that trades as Tiendas 3B, reported second-quarter 2026 results on 12 August 2026. Revenue was 26,037 million Mexican pesos, up 38.7% from 18,770 million pesos a year earlier. Same-store sales growth was 20.0%, against 17.7% in the second quarter of 2025. Market data put about two-thirds of that growth down to volume and one-third to price. Gross profit rose 43.4% to 4,362 million pesos, a gross margin of 16.8%, up 54 basis points. EBITDA was 960 million pesos, a 3.7% margin. Adjusted EBITDA, which excludes 615 million pesos of non-cash share-based payment expense, was 1,575 million pesos, a 6.1% margin and 43.8% higher than a year before.

Store and logistics build-out

The company ended June 2026 with 3,624 stores after 155 net openings in the quarter, and 593 net additions over twelve months. It also operated 21 distribution centres following one opening in the period. Reported call remarks said the new stores use a larger format with more refrigerated capacity, that two further distribution centres have opened since quarter-end and that a third is planned for the third quarter. Those remarks are unverified management statements. The company's securities are Class A common shares, listed on the New York Stock Exchange under the ticker TBBB, as confirmed in a company offering announcement of 28 May 2026. That follow-on priced 13,304,174 Class A shares, of which 700,000 came from the company and 12,604,174 from selling shareholders, so most of the proceeds went to existing holders rather than the business.

Profit, cash and balance sheet

Despite the operating momentum, the company recorded a net loss of 386 million pesos, compared with a loss of 286 million pesos in the second quarter of 2025. The release attributes the wider loss mainly to higher non-cash share-based payments, higher lease-related interest, an 85 million peso foreign-exchange loss, 37 million pesos of one-off offering costs and income tax expense of 208 million pesos. At 30 June 2026 cash and equivalents were 1,981 million pesos, with a further 4,129 million pesos in short-term bank deposits. Lease liabilities were 14,116 million pesos, while borrowings were modest at 1,805 million pesos across short and long term. The release gave no revenue or EBITDA guidance for 2026, only a projected share-based payment expense of 2,379 million pesos, and said the company does not manage to specific EBITDA margin targets.

Distribution Expansion Will Shape the Next Quarter

BBB Foods kept growing its store count and same-store sales at a pace well above a year earlier, with new, larger-format stores adding more refrigerated capacity as the network expands across Mexico. Management has flagged that logistics costs could rise in the third quarter because of ongoing distribution-centre openings, and a new point-of-sale system is still in early testing, so the pace of the rollout continues to test the company's cost discipline even as unit growth remains rapid.