Alimentation Couche-Tard misses expectations despite record Q3 profits
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Alimentation Couche-Tard misses expectations despite record Q3 profits

A Couche Tard convenience store is shown in Montreal, Friday, October 5, 2012. Alimentation Couche-Tard Inc. misses expectations despite posting record third-quarter earnings. THE CANADIAN PRESS/Graham Hughes.

LAVAL, Que. — Alimentation Couche-Tard Inc. has fallen short of analyst expectations despite posting record third-quarter earnings.

The Quebec-based convenience store operator says net profits attributable to shareholders for the period ending Feb. 3 increased 27 per cent to US$612.1 million from US$482.4 million a year earlier.

Excluding one-time items, Couche-Tard, which reports in U.S. dollars, says adjusted profits reached $609 million or $1.08 per diluted share.

That compared with $301 million or 53 cents per share a year earlier.

Revenues rose 4.6 per cent to $16.5 billion from $15.8 billion.

The company was expected to earn $641.7 million or $1.17 per share in adjusted profits on $17.3 billion of revenues, according to analysts polled by Thomson Reuters Eikon.

 

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

The Canadian Press

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