Couche-Tard's Q2 earnings up 9% from acquisitions, fuel sales

Alimentation Couche-Tard Inc. beat revenue expectations as the Quebec-based retailer's net earnings rose nine per cent in its most recent quarter thanks in part to acquisitions, improved fuel sales and lower taxes.

The world'ssecond-biggest convenience store operator, which reports in U.S. dollars, saidits net earnings attributable to shareholders were $473.1 million US or 84 cents per diluted share for thesecond quarter, a period that ended Oct. 14.

That's up from $432.5 million US or 76 cents per share from the same period the previous year.

Revenue from the company's fuel retail business, its biggest, increased 24.5 per cent to about $10.90 billion US.

Overall revenues rose 21 per cent to $14.7 billion US.

Couche-Tard has been expanding its gasoline and convenience storebusiness with new acquisitions including CST Brands and Holiday Stationstores, a 522-store chain of gas stations and convenience outlets in the United States.

The company was expected to earn 82 cents per share in adjusted profits on $13.9 billion US of revenues, according to analysts polled by Refinitiv.