Couche-Tard reports 42 per cent net income jump fuelled by acquisitions

LAVAL, Que. — Alimentation Couche-Tard Inc. says its net income rose 41.5 per cent in the fourth quarter as growth and acquisitions fuelled an equal jump in revenues.

The North American convenience store giant based in Laval, Que., says it earned US$392.7 million for the 12-week period ended April 29, up from US$277.6 million in what was a 13-week period a year ago.

The earnings translated into 70 cents per diluted share, up from 49 cents per diluted share in the final quarter of 2017.

Couche-Tard, which reports in U.S. dollars and operates mainly under the Circle K banner, says it estimates adjusted net earnings at $360 million or 64 cents per share for a 21 per cent jump in adjusted earnings from a year earlier.

Canada's largest company by revenues says they rose to $13,614.8 billion, from $962.3 million.

The company was expected to earn 57 cents per share and 55 cents per share on an adjusted basis, along with $12.9 billion of revenues, according to analysts polled by Thomson Reuters Eikon.

For the 52-weeks to the end of April, Couche-Tard earned $1,673.6 billion, up 38 per cent from the $1,208.9 billion it earned in the previous fiscal year that had 53 weeks.

Analysts forecast $2.85 per share in adjusted profits on $50.66 billion of revenues for the fiscal year.

 

Companies in this story: (TSX:ATD.B)

 

The Canadian Press

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