Executive Summary

• Alimentation Couche-Tard reported fiscal 4Q19 revenue of $13.1 billion, slightly below the consensus estimate of $13.3 billion and down 3.7% from 4Q18.
• The company’s merchandise and service segment 4Q19 revenue increased 2.4% year over year while road transportation fuel segment 4Q19 revenue decreased 4.3% year over year.
• 4Q19 revenue for the “other” segment, however, fell some 40.8% year over year.
• Alimentation Couche-Tard will open 28 stores in the upcoming quarters.