(Reuters) - Alimentation Couche-Tard Inc (ATDb.TO) topped analysts’ quarterly profit estimate on Tuesday as the world’s second-biggest convenience store operator earned more from improved fuel sales.
Revenue from the company’s fuel retail business, its biggest, increased 24.5 percent to about $10.90 billion. Couche-Tard has more than 8,000 outlets in the United States.
The same-store fuel volumes rose 1.2 percent in the United States, its biggest market, while same-store merchandise revenue was up 4.4 percent.
The company has been expanding its gasoline and convenience stores business with new acquisitions including CST Brands and Holiday Stationstores, a 522-store chain of gas stations and convenience outlets in the United States.
Revenue from merchandise and services business rose 11 percent to $3.46 billion in the quarter ended Oct.14.
Net income attributable to the company rose to $473.1 million, or 84 cents per share, in the second quarter, from $432.5 million, or 76 cents per share, a year earlier.
Total revenue rose to $14.70 billion from $12.14 billion. [nPn9nLW9da]
Excluding items, the company earned 84 cents per share, compared with 80 cents a year earlier.
Analysts, on average, were expecting the company to report a profit of 82 cents and revenue of $14 billion, according to IBES data from Refinitiv.
Reporting by Arundhati Sarkar and Laharee Chatterjee in Bengaluru; Editing by Shailesh Kuber