Alimentation Couche-Tard earns US$442.3 million in Q4 amid decline in revenue

Alimentation Couche-Tard Inc. says it earned US$442.3 million during the fourth quarter, down from US$454.5 million during the same quarter last year.

The Laval, Que.-based company, which keeps its books in U.S. dollars, reported that net earnings attributable to shareholders came in at US$439.4 million during the quarter, compared to US$453 million during the same period last year. 

Earnings per diluted share came in at 46 cents US during the fourth quarter, compared with 47 cents US during the same period last year. 

Revenue came in at US$16.3 billion during the fourth quarter, down 7.5% on an annual basis. 

The company said in a release that the decline in revenue was due partly to softer fuel demand in the U.S. 

Alimentation Couche-Tard CEO Alex Miller said the company held the line on U.S. same-store sales amid economic and geopolitical challenges. 

He added it also saw strong positive results for same-store sales in Canada and Europe.