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Alimentation Couche-Tard Inc. reported its third-quarterearnings on Tuesday, calling the results one of its best quarterly performances in over two years.
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The convenience store operator reported net earnings of US$757.2 million for the quarter ended Feb. 1, an 18 per cent increase from US$641.4 million in the previous year. This represented $0.82 per share on a diluted basis, up from $0.68 for the same period a year ago.
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“We’re very pleased with how our teams performed this quarter, particularly in an environment where many consumers remain stretched,” chief executive Alex Miller said during the company’s earnings call on Wednesday.
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On an adjusted basis, net earnings for the quarter were around US$751 million, up 17. 2 per cent from US$641 million for the same quarter last year. This comes to an adjusted net earnings of $0.81 per diluted share, up 19.1 per cent from $0.68 per share.
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The company said the US$110-million increase was primarily driven by contributions from acquisitions, higher road transportation fuel gross margin and positive organic growth in convenience activities, partly offset by the impact of inflation and strategic investments.
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During the quarter, Alimentation Couche-Tard acquired 12 company-operated stores, bringing its total number of company-operated stores acquired in fiscal 2026 to 26.
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The company also completed construction on 37 stores and relocation or reconstruction of eight stores. Another 58 stores currently under construction are expected to open in the coming quarters.
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Its revenues for the third quarter were US$21.8 billion, up by US$902.2 million or 4.3 per cent from 2025.
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The company attributes the revenue growth mainly to the impact of translating European operations into United States dollars, the contribution from acquisitions, organic growth and higher revenues in its wholesale fuel business, partly offset by a lower average fuel selling price and the impact of regulatory divestiture related to its U.S.-based GetGo acquisition, which closed in June last year.
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Total merchandise and service revenues were $5.8 billion in the quarter, an increase of 8.7 per cent from the prior year. The company said moving foreign currency operations into U.S. dollars had a net positive impact of approximately $108 million.
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Same-store merchandise revenues increased by 2.8 per cent in the U.S., 0.4 per cent in Europe and other regions and by 0.3 per cent in Canada. This comes to a two per cent increase in consolidated same-store merchandise revenues.
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Merchandise and service gross margin was down by 0.1 per cent in the U.S. to 33.9 per cent, and down by 0.1 per cent in Europe and other regions to 38.9 per cent, while its gross margin in Canada increased by 0.1 per cent to 32.5 per cent.
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