Couche-Tard Q2 profit surges to record on acquisitions, despite hurricane costs

Must Read

First Nations Health Authority chief medical officer concerned with rising COVID-19 cases

The B.C. First Nations Health Authority acting chief medical officer Dr. Shannon McDonald said she knows all...

Ontario will abide by judge’s ruling against carbon tax stickers, minister says

TORONTO — The Ontario government will not appeal a court ruling against its anti-carbon tax stickers, the province's energy...

Northern Health Region sees three new cases of COVID-19

VICTORIA, B.C. - Three new cases of COVID-19 were confirmed on Wednesday, bringing the total in the Northern Health...

LAVAL, Que. — Alimentation Couche-Tard Inc. says its earnings surged 35 per cent to a record US$435.3 million in its latest quarter as the CST Brands acquisition more than offset the negative impact of hurricanes in the U.S. south.

The Quebec-based convenience store operator, which reports in U.S. dollars, says it earned 76 cents per diluted share in the second quarter of its fiscal year, up from 57 cents or $321.5 million a year earlier.

Excluding one-time charges, Couche-Tard (TSX:ATD.B), earned $458 million or 80 cents per share for the three months ended Oct. 15. That compared to $328 million or 58 cents per share in the prior year.

- Advertisement -

Revenues were $12.1 billion, up 44 per cent from $8.44 billion in the second quarter of fiscal 2017.

Couche-Tard says hurricanes Harvey and Irma reduced sales and caused property damage in Texas and Florida costing $4.8 million.

The company also purchased and cancelled 4.4 million shares sold by Metro Inc. (TSX:MRU).

The Canadian Press

- Advertisement -

Community Interviews with Moose FM

Subscribe to our newsletter

Get the latest news delivered to your mailbox every morning.

More Articles Like This