Couche-Tard reported net earnings of $392.7 million for the fourth quarter of fiscal 2018 compared with $277.6 million for the fourth quarter of fiscal 2017.
Total merchandise and service revenues increased 25% to $3.2 billion in the quarter. In the United States, same-store merchandise revenues increased by 1.8%; in Canada, same-store merchandise revenues increased by 3.6%. For the first quarter since the acquisition, CST sites same-store merchandise revenues grew both in the United States and Canada. Merchandise and service gross margin increased by 0.3% in the United States to 33.6% and decreased by 0.3% in Canada to 34.4%, a result of the conversion of some Esso sites to company-operated stores.
Total road transportation fuel volumes grew by 33.8%. Same-store road transportation fuel volumes decreased by 0.1% in the United States and by 2.9% in Canada. Road transportation fuel gross margin increased by 1.82 cents per gallon in the United States to 17.29 cents per gallon and by 1.39 Canadian cents per liter (1.06 cents U.S.) in Canada to 9.44 cents per liter (7.20 cents U.S.). U.S. fuel margins were 19.39 cents for fiscal year 2018, up 4.5% compared to fiscal year 2017.
Couche-Tard’s network includes 10,020 c-stores in North America, including 8,698 stores with fuel dispensing. Through CrossAmerica Partners LP, Allentown, Pa., Couche-Tard supplies fuel to more than 1,300 locations in the United States.
- Couche-Tard is No. 2 on CSP’s 2018 Top 202 ranking of c-store chains by number of company-owned retail outlets.
It also operates a network of 2,730 c-stores and automated fuel stations in Scandinavia, Ireland, Poland, the Baltics and Russia. Under licensing agreements, more than 1,900 stores operate under the Circle K banner in China, Costa Rica, Egypt, Guam, Honduras, Hong Kong, Indonesia, Macau, Malaysia, Mexico, the Philippines, Saudi Arabia, the United Arab Emirates and Vietnam, which brings Couche-Tard’s total worldwide network to more than 15,900 stores.