Q1 2025 Alimentation Couche-Tard Inc Earnings Call Transcript
Key Points
- Alimentation Couche-Tard Inc (ANCTF) announced a definitive agreement to acquire GetGo Café markets, which operates approximately 270 locations, enhancing their footprint in Pennsylvania, Ohio, West Virginia, Maryland, and Indiana.
- The company reported a 17% increase in fully enrolled customers for its Inner Circle loyalty program in the US, with over 20% of transactions coming from these members.
- Strong performance in Europe with a 0.9% same-store sales growth, excluding weak results in the Hong Kong market.
- Healthy fuel margins despite a decrease in fuel volumes, indicating effective cost management and sourcing strategies.
- Successful integration of European retail assets from TotalEnergies, with identified synergies of $187 million over the next five years.
- Same-store revenues decreased by 1.1% in the United States, 2.1% in Europe and other regions, and 3.9% in Canada, impacted by constraints on discretionary spending.
- Fuel volumes decreased by 0.8% in the United States, 1.4% in Europe and other regions, and 2.1% in Canada, reflecting challenging economic conditions.
- Merchandise and services gross margin decreased by 0.6% in the United States to 53.7%, mainly due to investments in summer campaigns.
- Net earnings attributable to shareholders decreased to $790.8 million from $858 million in the first quarter of fiscal 2024, representing a 3.5% decline in adjusted diluted net earnings per share.
- Pressure on cigarette sales globally, although some stabilization was noted in the US market.
(audio in progress) Mr. Mathieu Brunet, Vice President, Investor Relations and Treasury at Alimentation Couche-Tard. (spoken in foreign language)
English will follow. (spoken in foreign language)
Good morning. I would like to welcome everyone to this web conference presenting Alimentation Couche-Tard financial results for the first quarter of fiscal year 2025. (Event Instructions)
We would like to remind everyone that this webcast presentation will be available on our website for a 90-day period.
Also, please remember that some of the issues discussed during this webcast might be forward-looking statements, which are provided by the corporation with its usual caveats. These caveats or risks and uncertainties are outlined in our financial reporting. Therefore, our future results could differ from the information discussed today.
Our financial results will be presented by Mr. Brian Hannasch, President and Chief Executive Officer
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