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Nov 28, 2023

Alimentation Couche-Tard reports net earnings of US$819.2 million in second quarter

Alimentation Couche-Tard misses on top and bottom lines in Q2

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Alimentation Couche-Tard Inc. says its net earnings for the second quarter were US$819.2 million, up from US$810.4 million a year earlier.

The Laval, Que.-based company says total merchandise and service revenues were US$4.1 billion, up one per cent from last year. 

Alimentation Couche-Tard says same-store merchandise revenues decreased by 0.1 per cent in the U.S. and 0.2 per cent in Europe but rose 1.6 per cent in Canada. 

President and CEO Brian Hannasch says the company saw softening in U.S. same-store sales driven by weakness in the cigarette category and compared with a strong second quarter a year earlier. 

Diluted earnings per share were 85 cents US, up from 79 cents US during the same quarter last year. 

The company says same-store road transportation fuel volumes decreased by 1.5 per cent in the U.S. and 0.9 per cent in Europe but increased three per cent in Canada.