Alimentation Couche-Tard boosts dividend even as profits slip in latest quarter


LAVAL, Que. – Alimentation Couche-Tard Inc. is boosting its quarterly dividend by almost 26 per cent even as its internet earnings decreased in its latest quarter regardless of larger revenues.

The Quebec-based comfort retailer operator says it should pay 11 cents per share, up from 8.75 cents.

Couche-Tard earned US$694.8 million or 65 cents per diluted share in the second quarter of its fiscal yr, down from US$757 million or 68 cents per share a yr earlier.

Adjusted profits had been $693 million or 65 cents per share, down from US$735 million or 66 cents per share in the second quarter of fiscal 2021.

Reporting in U.S. {dollars}, revenues elevated 33.5 per cent to US$14.22 billion from US$10.66 billion in the prior-year quarter, primarily because of larger gas costs.

Couche-Tard was anticipated to report 66 cents per share in adjusted profits of US$14 billion of revenues, in response to monetary knowledge agency Refinitiv.

“Gasoline volumes confirmed an upward pattern in Europe, whereas different geographies remained impacted by COVID-19 site visitors patterns. Throughout the board, we proceed to attain wholesome gas margins,” acknowledged CEO Brian Hannasch.

Gasoline revenues elevated 48 per cent to US$10.1 billion. Similar-store gas quantity elevated 3.3 per cent in the united statesand 2.8 per cent in Canada, and dropped 0.3 per cent in Europe and different areas.

Merchandise revenues elevated 5.8 per cent to US$4 billion with a 1.4 per cent enhance in the U.S. same-store revenues, 3.9 per cent acquire in Europe and different areas and a couple of.1 per cent lower in Canada.

“Like our friends throughout the retail and comfort panorama in North America, this quarter we continued to face unprecedented labour and provide chain challenges. Little doubt, that is probably the most troublesome market in current historical past, and we’re working laborious to mitigate the scenario,” he added.

This report by The Canadian Press was first printed Nov. 23, 2021.

Firms in this story: (TSX:ATD.B)





Alimentation Couche-Tard boosts dividend even as profits slip in latest quarter Source link Alimentation Couche-Tard boosts dividend even as profits slip in latest quarter

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