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