Alimentation Couche Tard 2Q Revenue Falls, Weighed Down by Lower Fuel Sales
By Sabela Ojea
Alimentation Couche Tard said revenue declined in the fiscal second quarter, driven by lower road transportation fuel sales.
The Canadian gas station and convenience store operator on Tuesday posted a net profit for the three months ended Oct. 15 of $819.2 million, or 85 cents a share, compared with $810.4 million, or 79 cents a share, for the same period a year earlier.
Stripping out one-time items, the company's earnings per share came in at 82 cents. Analysts polled by FactSet had forecast adjusted earnings per share of 79 cents.
Revenue fell 2.7% to $16.23 billion, as a decline in value of road-transportation fuel revenue offset a rise in its merchandise and service business in the U.S. and Europe. Analysts expected total revenue of $16.3 billion.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
November 28, 2023 17:43 ET (22:43 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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