BBB Foods (TBBB) Q2 2026 earnings summary

Executive summary

• Achieved revenue growth of 38.7% year-over-year in 2Q26, reaching Ps. 26,037 million, with same-store sales up 20.0% and 155 net new stores opened, totaling 3,624 stores and 21 distribution centers as of June 30, 2026.

• EBITDA excluding non-cash share-based payment expense rose 43.8% year-over-year to Ps. 1,575 million, with margin expanding by 21 bps to 6.1%.

• Net loss for 2Q26 was Ps. 386 million, compared to a net loss of Ps. 286 million in 2Q25, impacted by higher administrative and financial costs.

• Maintained a net cash position of Ps. 1,981 million and cash of ~$236 million in USD bank deposits.

• Strong operational execution and resilience across economic environments highlighted.

Financial highlights

• Total revenue for 2Q26 was Ps. 26,037 million, up from Ps. 18,770 million in 2Q25.

• Gross profit increased 43.4% year-over-year to Ps. 4,362 million, with gross margin at 16.8%.

• EBITDA: Ps. 960 million (3.7% margin); adjusted EBITDA (excl. non-cash share-based payment) Ps. 1,575 million (6.1% margin).

• Operating cash flow for H1 2026 reached Ps. 4,285 million, up 119% year-over-year.

• Sales expenses as a percentage of revenue decreased by 56 basis points to 10% year-over-year.

Outlook and guidance

• Entering the second half of 2026 with strong momentum and confidence in sustained long-term value creation.

• Ongoing investment in talent expected to continue at a similar rate in the second half of 2026.

• No constraints on real estate pipeline; expansion pace could accelerate if conditions remain favorable.

• Focus remains on disciplined execution, operational efficiency, and self-funded organic expansion.

• Continued focus on store expansion, with 593 net new stores opened in the last twelve months.