Q3 2026 Alimentation Couche-Tard Inc Earnings Call Transcript
Key Points
- Alimentation Couche-Tard Inc (ANCTF) reported one of its best quarterly performances in over two years, with solid growth in both adjusted EBITDA and earnings per share.
- The company completed the construction of 37 stores in the third quarter, reaching a total of 80 stores since the beginning of fiscal 2026, with plans to accelerate network expansion to add at least 750 new sites by 2030.
- Same-store sales were positive across all three operating regions for the third consecutive quarter, with the United States showing a 2.8% increase, marking the strongest performance in more than two years.
- The company's Inner Circle loyalty program in the US added 1.2 million members in the quarter, bringing total membership to 13.7 million, with engagement continuing to build.
- Alimentation Couche-Tard Inc (ANCTF) was recognized for the fifth straight year as a Gallup Exceptional Workplace Award winner, highlighting its strong workplace culture and employee engagement.
- Fuel volumes in the US slightly declined by 0.4% year-over-year, although they improved sequentially versus the prior quarter.
- In Europe, volumes were down 1.6%, reflecting the broader macro backdrop and extreme weather in parts of the region.
- The company's merchandise and service gross margin in the United States was slightly down by 0.1%, mainly due to a change in sales mix from higher cigarette sales and temporary pre-operating costs related to new distribution centers.
- In Canada, nicotine trends continued to face regulatory and illicit market headwinds, impacting performance.
- The company is experiencing some pressure on gross margins due to the ramp-up and fine-tuning of operations at new distribution centers, which may continue to impact results in the near term.
Good morning. My name is Joelle, and I will be your conference operator today. (spoken in foreign language)
I will now introduce Mr. Mathieu Brunet, Vice President, Investor Relations and Treasury at Alimentation Couche-Tard.
English will follow.
(interpreted) Good morning. I would like to welcome everyone to this web conference presenting Alimentation Couche-Tard's financial results for the third quarter of fiscal year 2026. All lines will be kept on mute to prevent any background notes. After the presentation, we will answer questions from analysts during the web conference.
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 the usual caveats. These caveats or risks and uncertainties are outlined in our financial reporting.
Therefore,
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