Couche-Tard Profit Rises, Revenue Misses Estimates

The Canadian convenience-store giant posted a profit of $757.2 million, or 82 cents per share, a significant rise from $641.4 million, or 68 cents per share, in the prior year. Total revenue climbed to $21.81 billion from $20.90 billion.

This growth was driven by increases in both merchandise and service revenue, which reached $5.75 billion, and road transportation fuel revenue, totaling $15.86 billion. However, the results presented a mixed picture for investors. Adjusted earnings per share of 81 cents fell short of analyst expectations of 83 cents, and total revenue also missed the $22.13 billion forecast.

Consolidated same-store merchandise revenue saw a 2% increase overall, with the U.S. leading at 2.8%. In contrast, same-store fuel volumes declined in the U.S. by 0.4% and in Europe by 1.6%, though Canada experienced a 4.2% rise.

These misses against analyst estimates, despite overall growth, could temper investor enthusiasm.