• About
  • Advertise
  • Contact
Tuesday, July 1, 2025
  • Login
No Result
View All Result
NEWSLETTER
The NY Journals
  • Home
  • Business
  • Technology
  • Entertainment
  • Sports
  • Lifestyle
  • Health
  • Politics
  • Trending
  • Home
  • Business
  • Technology
  • Entertainment
  • Sports
  • Lifestyle
  • Health
  • Politics
  • Trending
No Result
View All Result
The NY Journals
No Result
View All Result
Home Technology

Circle K owner misses estimates on lower fuel prices, demand

by Sarkiya Ranen
in Technology
Circle K owner misses estimates on lower fuel prices, demand
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


[TORONTO] Circle K owner Alimentation Couche-Tard slightly missed earnings estimates for its fiscal fourth quarter earnings because of lower fuel demand.

The Canadian convenience store and fuel retailer earned 46 US cents per share on an adjusted basis, according to a statement on Wednesday (Jun 25), a penny short of the 47 US cents estimated by analysts in a Bloomberg survey.

Revenue in the quarter was US$16.3 billion, down 7.5 per cent from last year, mainly due to lower fuel prices and weaker gas demand in the US. However, the fuel business maintained its market share in the country, the company said.

“In the face of difficult economic and geopolitical conditions, we held the line in same-store sales in the United States and had strong positive results in Canada and Europe,” chief executive officer Alex Miller said.

Same-store merchandise revenues fell by 0.4 per cent in the US, Couche-Tard’s most important market, but grew by 3.5 per cent in Canada and by 3.4 per cent in Europe and other regions.

Same-store fuel volumes were down by 1.9 per cent in the US and 0.6 per cent in Europe, but Canada saw a 3.7 per cent increase.

BT in your inbox

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

It’s the first earnings report for Couche-Tard since it signed a non-disclosure agreement with Japanese competitor Seven & i Holdings, which it has been pursuing. Couche-Tard has offered about US$50 billion but has not been able to win over the board of the company that owns 7-Eleven, Speedway and other chains. If successful, it would be the largest foreign acquisition of a Japanese company in history.

The earnings statement did not say anything about the Seven & i deal.

Earlier this month, Couche-Tard expressed optimism about the prospects for a deal after it received proposals from buyers interested in acquiring more than 2,000 US convenience stores. The company would need to divest those stores, if it’s able to take over Seven & i, to assuage US Federal Trade Commission antitrust concerns.

Couche-Tard shares are down 14 per cent this year and have underperformed the Canadian stocks benchmark as investors contemplate the potential deal while also weighing evidence of reduced consumer activity.

“The US convenience store industry does not appear to have turned the corner,” Stifel Financial analyst Martin Landry said in a report last month in which he trimmed his price target on the shares to C$84. A stronger Canadian dollar is also a headwind for earnings, Landry said.

JP Morgan Chase analyst John M Royall also cut his price target to C$84 recently, similarly citing the appreciation of the loonie. Couche-Tard shares closed at C$68.81 in Toronto on Wednesday. BLOOMBERG



Source link

Tags: CircleDemandEstimatesFuelMissesOwnerPrices
Sarkiya Ranen

Sarkiya Ranen

I am an editor for Ny Journals, focusing on business and entrepreneurship. I love uncovering emerging trends and crafting stories that inspire and inform readers about innovative ventures and industry insights.

Next Post
Access Denied

Access Denied

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

U.S. company’s domination of Banff and Jasper attractions raises questions, say competitors

U.S. company’s domination of Banff and Jasper attractions raises questions, say competitors

10 months ago
Teen Mom Star Amber Portwood’s Fiancé Gary Wayt Reported Missing Days After Engagement News – E! Online

Teen Mom Star Amber Portwood’s Fiancé Gary Wayt Reported Missing Days After Engagement News – E! Online

1 year ago

Popular News

    Connect with us

    The NY Journals pride themselves on assembling a proficient and dedicated team comprising seasoned journalists and editors. This collective commitment drives us to provide our esteemed readership with nothing short of the most comprehensive, accurate, and captivating news coverage available.

    Transcending the bounds of New York City to encompass a broader scope, we ensure that our audience remains well-informed and engaged with the latest developments, both locally and beyond.

    NEWS

    • Business
    • Technology
    • Entertainment
    • Sports
    • Lifestyle
    • Health
    • Politics
    • Real Estate
    Instagram Youtube

    © 2025 The New York Journals. All Rights Reserved.

    • About Us
    • Advertise
    • Contact Us
    No Result
    View All Result
    • Home
    • Business
    • Technology
    • Entertainment
    • Sports
    • Lifestyle
    • Health
    • Politics
    • Trending

    Copyright © 2023 The Nyjournals

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In