Company News

Alimentation Couche-Tard misses quarterly revenue estimates

Nov 26 (Reuters) - Alimentation Couche-Tard Inc missed quarterly revenue estimates on Tuesday, as the Canadian convenience store operator was hit by weakness in its fuel business.

Net income attributable to the company rose to $578.6 million, or 51 cents per share, in the second quarter ended Oct. 13 from $473.1 million, or 42 cents per share, a year earlier.

Total revenue fell to $13.68 billion from $14.7 billion a year earlier, missing the average analyst estimate of $14.04 billion, according to IBES data from Refinitiv.

Couche-Tard on Monday had sweetened its approach for fuel retailer Caltex Australia with a A$8.61 billion offer in a bid to expand into Asia. (Reporting by Praveen Paramasivam in Bengaluru; Editing by Amy Caren Daniel)