Canadian convenience store company Alimentation Couche-Tard has reported net earnings of $712.8m in the second quarter (Q2) of the fiscal year 2025 (FY25), a 13.1% drop from $819.2m in Q2 FY24.
Basic and diluted net earnings per share (EPS) were $0.75, down from $0.85 in Q2 FY24.
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Net earnings attributable to shareholders of the corporation were $708.8m, a decrease of $110.4m, or 13.5%.
For the 12 weeks ending 13 October 2024, total revenues grew 6% to $17.40bn, compared with $16.42bn in Q2 FY24.
Total merchandise and service revenues rose by 6.6% to $4.4bn.
Same-store merchandise revenues decreased by 1.6% in the US, 1.5% in Europe and other regions, and 2.3% in Canada. Economic challenges and a declining cigarette industry impacted all regions.
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By GlobalDataOperating income for the quarter was $1.03bn, down from $1.09bn.
The company achieved a total gross profit of $3.15bn in Q2 FY25, a 7.3% increase from $2.93bn in Q2 FY24.
Adjusted earnings before interest, tax, depreciation, amortisation and impairment in Q2 F25 reached $1.51bn, as against $1.48bn in the same period of FY24.
In August 2024, Alimentation Couche-Tard agreed to acquire GetGo Café + Market for $1.6bn.
The company completed 11 new stores and relocated or reconstructed three stores. As of 13 October 2024, 77 stores were under construction.
Alimentation Couche-Tard president and CEO Alex Miller said: “While parts of our convenience and fuel business continued to be challenged this quarter as consumers carefully watched their spending, we remain confident in the advantages of our globally diversified network and long-term strategic growth plan. In our European markets, most categories performed positively, as well as fuel volumes in Europe and Canada. Fuel margins also remained healthy across the network.
“Throughout the quarter, we focused relentlessly on providing value to our customers including introducing bundle meal deals in the United States, expanding our private brand offer at affordable price points and continuing popular Fuel Day promotions.”
In the first half of FY25, the company’s net earnings were $1.50bn, a 9% decrease from $1.65bn in the same of FY24.
Basic and diluted net EPS was $1.57, compared to $1.70 in the previous fiscal year.
Total revenues increased by 11.3% and gross profit rose by 7.6% over the period.
