Article Date 10/07/2018

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Alimentation Couche-Tard profit jumps 41.5%, beats estimates on fuel sales, acquisitions

Source Reuters


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.

Net income attributable rose to $392.7 million, or 70 cents per share, from $277.6 million, or 49 cents per share, a year earlier.

Excluding one-time items, the company earned 59 cents per share, beating analysts’ average estimate of 55 cents, according to Thomson Reuters I/B/E/S.





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