20:05:57 EST Fri 09 Dec 2022
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Alimentation Couche-Tard Inc
Symbol ATD
Shares Issued 1,013,555,355
Close 2022-11-23 C$ 60.10
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FP says fuel sales helps Couche-Tard to Q2 profit boost

2022-11-24 09:33 ET - In the News

The Financial Post reports in its Thursday edition that Alimentation Couche-Tard, which oversees a global network of convenience stores and gasoline stations, posted net earnings of $810-million in its most recent quarter, a nearly 17-per-cent increase from the same period a year earlier (all figures U.S.). The Post's Marisa Coulton writes that Couche-Tard, which operates more than 14,300 stores in 24 countries and territories, led by its Circle K brand, reported revenue of $16.9-billion, an 18.7-per-cent increase from the same period in 2021. The gain was mostly the result of higher gasoline prices, as earnings from "road transportation fuel," which represents about 75 per cent of the company's income, jumped 24.3 per cent on the year. Revenue from merchandise was only 2.3-per-cent higher, as an increase in sales in the United States offset declines in Canada and Europe. Diluted net earnings per share amounted to 79 cents per share, compared with 65 cents per share in the second quarter last year, a gain that chief financial officer Claude Tessier attributed to "strong" gross profit margins and "cost optimization initiatives," which Mr. Tessier said have helped "mitigate" the effects of higher inflation.

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