Alimentation Couche-Tard (TSX: ATD.B) 1Q20 Results: Revenue Below Consensus, Merchandise and Service Drive Growth

Executive Summary

• Alimentation Couche-Tard reported fiscal 1Q20 revenue of $14.2 billion, below the consensus estimate of $15.1 billion and down 4.2% from 1Q19.
• The company’s merchandise and service segment revenue increased 1.6% year over year, while road transportation fuel segment revenue decreased 4.8% year over year.
• Revenue for the “other” segment, however, decreased 44.8% year over year, driven by the company’s disposal of its marine fuel business.