Alimentation Couche-Tard announces record earnings for Q2 2017
Alimentation Couche-Tard Inc. says its earnings surged 35 per cent to a record US$435.3 million in its second quarter.
After the acquisition of CST Brands and a number of operations, Couche-Tard has posted net earnings of $435.3 million for the second quarter of 2018 fiscal year – a significant growth from the $321.5 million of the same period last year.
The corporation's network was impacted by Hurricanes Harvey and Irma in the United States, and lost approximately 3,000 store days in merchandise and service sales and 5,700 store days in road transportation fuel sales.
“In terms of our overall performance this quarter, the positive contribution from our newly acquired CST network is particularly notable and added to the strong increase of nearly 38.0% in our adjusted net earnings per share." announced Brian Hannasch, President and CEO of Alimentation Couche-Tard.
Convenience store giant Couche-Tard agreed to buy Texas-based convenience store and fuel retailer CST Brands for approximately $4.4 billion in August 2016.
"The integration of the CST network is going extremely well. Our operation teams are successfully optimizing site layouts, implementing key programs and pushing strategic promotions to increase traffic to those stores," added Brian Hannasch.
As of October 15, 2017, Couche-Tard's network comprised 9,465 convenience stores throughout North America, including 8,135 stores with fuel sales. In Europe, the company has a network of 2,750 sites operating under the Circle K brand.
