By Connor Hart
Shares of BBB Foods fell after the company posted third-quarter revenue that missed analyst estimates.
The stock slid 11%, to $30.51, in afternoon trading Tuesday. The Mexican supermarket chain had its initial public offering in February, selling 33.7 million shares at an opening price of $19.50 each.
The Mexico City company after the bell on Monday reported a profit of 257.6 million Mexican pesos ($12.4 million), or MXN1.89 a share, compared with a loss of MXN339.1 million, or MXN28.25 a share, in the same quarter last year.
Revenue jumped 30%, to MXN14.83 billion, but came in below the MXN15.16 billion that analysts surveyed by FactSet were expecting.
Same-store sales, which adjust for store openings and closings, rose about 12%. The company opened 131 net new stores in the recent quarter, bringing its total store count to 2,634.
The BBB in the company's name stands for Bueno, Bonito y Barato in Spanish, and translates to good, nice and affordable.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
November 26, 2024 13:58 ET (18:58 GMT)
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