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Couche-Tard sees its revenues and profit climb in the 3rd quarter

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Alimentation Couche-Tard posted third-quarter net profit on Tuesday up 22.9% from the same period last year, while its revenues jumped 41.2%.

The convenience store chain saw its profit reach 746.4 million US, or 70 US cents per share for the quarter ended January 30, while it had been 607.5 million US, or 55 US cents per share, during the same period a year earlier.

The Laval company’s revenues totaled 18.58 billion US in the most recent quarter, while its turnover had been 13.16 billion US a year earlier.

Revenue from goods and services, which excludes fuel sales, was $4.79 billion, compared to $4.53 billion in the previous third quarter.

Adjusted earnings, which exclude one-time items, were 70 cents per share, compared to 56 cents per share for the same period last year.

Analysts on average had expected adjusted earnings of 63 cents per share, along with revenue of $17.89 billion, according to forecasts compiled by financial data firm Refinitiv.

The board of directors has authorized the payment of a dividend of 11 cents CAD per share for the third quarter, which will be paid on April 7 to shareholders of record on March 24.



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