Alimentation Couche-Tard Inc. posted year-over-year increases in adjusted net income and EPS for its fiscal third quarter but missed analyst expectations.
For the fiscal third quarter, the 16-week period ended Feb. 4, the convenience store chain reported adjusted diluted net earnings per share of 54 cents, a 1.9% increase from the the 53 cents per share in the same quarter a year ago. However, the figure missed the mean consensus estimate for normalized EPS of 74 cents per share, according to S&P Capital IQ.
Couche-Tard posted adjusted net earnings attributable to shareholders of $304 million, compared to the $303 million reported in the year-ago period.
The company said it recorded a net tax benefit of $196.3 million from U.S. federal tax reform during its fiscal third quarter, about $14.1 million of which is attributable to noncontrolling interest.
Revenue jumped 38.3% year over year to $15.79 billion, compared to $11.42 billion in the year-ago quarter.
The convenience chain said that as of Feb. 4, its network consists of 10,000 stores throughout North America, including about 8,700 stores with fuel dispensing.