(Laval) Alimentation Couche-Tard reported net income attributable to shareholders of US623.4 million for its third quarter, down 15.5% compared to US737.4 million for the same period a year later. early.
The Laval-based company indicated Wednesday that its revenues reached US$19.6 billion during the quarter ended February 4, down US$433.1 million compared to the same quarter of the previous fiscal year.
Couche-Tard attributed this drop to a lower average selling price of fuel and “weak traffic while some of (its) customers remain affected by difficult economic conditions.”
Same-store fuel volumes actually decreased by 0.8% in the United States and by 1.9% in Europe and other regions, but they increased by 0.2% in Canada, noted Couche- Late.
Earnings were 65 US cents per share, compared to 73 US cents per share in the third quarter of fiscal 2023.
In a statement, Alimentation Couche-Tard President and CEO Brian Hannasch noted that the company “continues to face a current climate of economic instability, particularly in the United States.”
However, he assured that the company will continue to focus on its private label offering and the deployment of its loyalty programs to “bring value to (its) customers”, some of whom are facing financial constraints.
Mr. Hannasch noted that in January, Couche-Tard completed the acquisition of certain European assets from TotalEnergies, allowing it to add 2,175 branches to its network and enter four new countries.
A conference call with analysts is planned for Thursday morning regarding Couche-Tard’s most recent results.