LAVAL, Que. — Canadian convenience store giant Alimentation Couche-Tard reported earnings for the second quarter ended Oct. 9 were up 16.6 per cent.
Net earnings for the quarter were $810.4 million, or 79 cents per diluted share, up from $694.8 million or 65 cents per diluted share a year earlier.
The Quebec-based company says its total revenues were $16.9 billion, up 19.7 per cent from last year.
This was largely due to a 24.3 per cent increase in road transportation fuel revenues as gas prices rose, while merchandise and service revenues were up 2.3 per cent.
Same-store merchandise revenues were up in the U.S., Europe and other regions, but were down in Canada, the company said.
Couche-Tard president and CEO Brian Hannasch said the company has piloted its new loyalty program in the U.S. and a new tiered concept in Europe, and is preparing for expansions on those pilots in the upcoming quarters.
This report by The Canadian Press was first published Nov. 22, 2022.
Companies in this story: (TSX:ATD)
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