OTTAWA (dpa-AFX) - Alimentation Couche-Tard Inc. (ATD.TO) on Tuesday reported first-quarter net earnings attributable to shareholders of $828.5 million or $0.90 per share, compared with $782.5 million or $0.82 per share in the year-ago quarter.
Adjusted net earnings increased 12.2% to approximately $827.0 million while adjusted diluted earnings per share rose 15.4% to $0.90 from $0.78.
The company said the growth was primarily driven by higher road transportation fuel gross margins, contributions from acquisitions, organic growth in convenience activities and share repurchases.
Total revenues increased 25.1% to $21.70 billion from $17.35 billion, mainly reflecting higher average fuel selling prices, contributions from acquisitions and organic convenience growth, partly offset by softer fuel demand.
Merchandise and service revenues rose 4.1% to $4.9 billion, with same-store merchandise revenue increasing 1.7% in the U.S. and 1.2% in Europe and other regions, while remaining stable in Canada.
Road transportation fuel revenues climbed 33.0% to $16.67 billion, while fuel gross profit increased 15.1% to $1.84 billion. The U.S. fuel gross margin rose to 52.61 cents per gallon from 44.00 cents.
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