Alimentation Couche-Tard Inc reported a 41.5 percent rise in
quarterly profit on Monday as the world’s second-biggest convenience
store operator benefited from its acquisition of Holiday Stationstores
and CST Brands.
The net income attributable rose to $392.7
million, or 70 cents per share, in the fourth quarter ended April 29,
from $277.6 million, or 49 cents per share, a year earlier.
Total revenue jumped to $13.61 billion from $9.62 billion. Total revenue
from the Canadian company’s fuel retail business jumped 48
percent to about $10 billion on higher fuel prices in the fourth
quarter ended April 29.
Couche-Tard agreed to buy Texas-based CST in August 2016 for $4.4
billion but won U.S. antitrust approval almost a year later on condition
to sell up to 71 stores in eight states.
With CST, the company
said on Monday it realized synergies of about $153 million in less than a
year, surpassing its own expectations.
The company also completed its $1.6 billion purchase of Holiday Stationstores in the third quarter this year.
income attributable rose to $392.7 million, or 70 cents per share, from
$277.6 million, or 49 cents per share, a year earlier.
one-time items, the company earned 59 cents per share, beating
analysts’ average estimate of 55 cents, according to Thomson Reuters