Couche-Tard reports US$746.4M Q3 profit, up from US$607.5M a year ago

Alimentation Couche-Tard Inc. reported a third-quarter profit of US$746.4 million, up from US$607.5 million in the same quarter last year.

The Quebec-based convenience store company, which keeps its books in U.S. dollars, said the profit amounted to 70 cents per diluted share for the 16-week period ended Jan. 30, up from 55 cents per diluted share a year earlier.

Revenue totalled US$18.58 billion, up from US$13.16 billion.

On an adjusted basis, Couche-Tard said it earned 70 cents per diluted share, up from an adjusted profit of 56 cents per diluted share in the same quarter last year.

Analysts on average had expected an adjusted profit of 63 cents per share and US$17.89 billion in revenue, according to financial markets data firm Refinitiv.

Earlier this month, Couche-Tard suspended its operations in Russia and chief executive Brian Hannasch condemned Russia's aggression against Ukraine and the impact it is having on both Ukrainians and Russians.

-- This report by The Canadian Press was first published on March 16, 2022.