- Alimentation Couche-Tard (TSX:ATD) Q3 net earnings rose to US$757.2M, up from US$641.4M last year, with adjusted earnings also increasing to about US$751M
- Merchandise and service revenues grew 8.7 per cent to US$5.8B, with modest same‑store sales increases across all regions
- Fuel margins strengthened and the store network expanded, including 37 new openings and 58 more under construction
- Alimentation Couche-Tard stock (TSX:ATD) opened trading at C$81.29
Convenience store chain Alimentation Couche-Tard (TSX:ATD) reported stronger year‑over‑year financial results for its third quarter ended February 1, 2026, reflecting growth in net earnings, merchandise revenues, and fuel margins across several regions.
The corporation posted net earnings attributable to shareholders of US$757.2 million, up from US$641.4 million in the same quarter of fiscal 2025. On a diluted per‑share basis, earnings rose to $0.82, compared with $0.68 last year. Adjusted net earnings were reported at approximately US$751.0 million, representing a 17.2 per cent increase from the prior‑year period, while adjusted diluted earnings per share climbed 19.1 per cent to US$0.81.
Total merchandise and service revenues reached US$5.8 billion, an 8.7 per cent increase from the previous year. Same‑store merchandise revenue grew 2.8 per cent in the United States, 0.4 per cent in Europe and other regions, and 0.3 per cent in Canada, contributing to a 2.0 per cent consolidated increase. Merchandise and service gross margins were largely stable, edging down 0.1 percentage point in both the U.S. and Europe, and rising 0.1 percentage point in Canada.
Same‑store road transportation fuel volumes showed mixed results: down 0.4 per cent in the U.S. and 1.6 per cent in Europe and other regions, but up 4.2 per cent in Canada. Fuel gross margins improved across all geographies, rising to 47.71¢ per gallon in the U.S., 10.87¢ per litre in Europe and other regions, and 15.82¢ per litre in Canada.
Couche‑Tard continued to expand its store network, opening 37 new‑to‑industry sites and completing eight relocations or reconstructions, totalling 80 new stores since the beginning of fiscal 2026. As of February 1, 2026, another 58 stores were under construction.
The company noted that third‑quarter results included a pre‑tax foreign exchange gain of US$13.5 million and pre‑tax acquisition costs of US$3.9 million, compared with a US$12.3 million foreign exchange gain and US$8.7 million in acquisition costs during the same quarter last year. Executives attributed the improved adjusted performance to contributions from recent acquisitions, stronger fuel margins, and continued organic growth across convenience operations, partly offset by inflationary pressures and increased strategic investments.
“For the third consecutive quarter, we delivered positive same-store sales across every region and once again outperformed the broader industry,” the company’s president and CEO, Alex Miller stated in a media release.
“We delivered one of our best quarterly performances in over two years, with same-store sales accelerating as the quarter progressed and contributing to solid growth in both adjusted EBITDA and earnings per share,” CFO Filipe Da Silva added.
Alimentation Couche-Tard Inc. operates in 31 countries and territories, with more than 16,700 stores, of which approximately 13,100 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States.
Alimentation Couche-Tard stock (TSX:ATD) opened trading down more than 4 per cent at C$81.29 but has risen more than 11 per cent since this time last year.
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