Canadian convenience store operator Alimentation Couche-Tard has reported $18.6bn in revenues for the third quarter (Q3) of the fiscal year 2022 (FY22), up by 41.2% from the corresponding period of FY21.
The company’s total merchandise and service revenues for the quarter grew by 5.8% to $4.8bn.
Its same-store merchandise revenues grew by 3.7% in the US and saw a 7.2% increase in Europe and other regions grew by 3.7% and 7.2%.
The company’s same-store merchandise revenues in Canada declined by 0.8% compared with Q3 2021.
For the three months to 30 January, Couche-Tard’s net earnings were $746.4m, compared with $607.5m in Q3 2021.
The company’s adjusted net earnings were approximately $746.0m, up from $622.0m for the third quarter of FY21.
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Its earnings per share were $0.70, against $0.55 a year earlier.
Couche-Tard president and CEO Brian Hannasch said: “Two years after the start of the pandemic and during a quarter where the Omicron variant surged across our network, I am proud to announce that we had good results during the third quarter in both convenience and fuel.
“Same-store merchandise sales were particularly strong in Europe, as well as in the US, with our freshly prepared food programmes and packaged beverages among the main drivers of growth.
“Across the business, in fuel volumes and traffic, we saw strong results early in the quarter, but both were impacted by work from home orders and rise in Covid-19 cases, especially towards the end of the quarter in our larger urban centres in North America and Europe.
“However, we continue to achieve healthy fuel margins and benefit from strategic initiatives, on which we remain laser-focused.”
Couche-Tard operates more than 14,100 stores across 26 countries and territories.
The company recently suspended its operations in Russia, where it operates 38 stores, amid the ongoing conflict in Ukraine.