LAVAL, QC, Sept. 1, 2026 /PRNewswire/ -- Alimentation Couche-Tard Inc. ("Couche-Tard" or the "Corporation") (TSX: ATD) announces its results for its first quarter ended July 19, 2026.

Executive Comments on the Quarter

Alex Miller, President and Chief Executive Officer, said: "We are encouraged by the start to fiscal 2027 and the continued progress we are making through Core + More. We delivered our fifth consecutive quarter of positive same-store merchandise sales growth in the U.S., supported by continued momentum in food, energy drinks and other nicotine products. Our fuel business remained a source of strength, delivering solid profitability and demonstrating the resilience of our network. We are also looking forward to welcoming Żabka Group into the Couche-Tard family, which will strengthen our capabilities in food, digital engagement and supply chain and complement our organic growth initiatives while expanding our scale in Central and Eastern Europe."

Filipe Da Silva, Chief Financial Officer, added: "The first quarter demonstrates the balance we are achieving across the business, delivering adjusted EBITDA(1) growth of 10.5% and adjusted diluted earnings per share(1) growth of 15.4%, while maintaining normalized expense(1) growth well below inflation. At the same time, we continue to invest in customer value and traffic-driving initiatives, advancing our strategic priorities and focusing on delivering sustainable long-term earnings growth."

Quarterly Highlights

   -- Net earnings attributable to shareholders of the Corporation were $828.5 
      million for the first quarter of fiscal 2027 compared with $782.5 million 
      for the first quarter of fiscal 2026. Adjusted net earnings attributable 
      to shareholders of the Corporation1 were approximately 
      $827.0 million compared with $737.0 million for the corresponding quarter 
      of last year, representing an increase of 12.2%. 
 
   -- Net earnings attributable to shareholders of the Corporation were $0.90 
      per diluted share for the first quarter of fiscal 2027 compared with 
      $0.82 per diluted share for the first quarter of fiscal 2026. Adjusted 
      diluted net earnings per share1 were $0.90, representing an increase of 
      15.4% from $0.78 for the corresponding quarter of last year. 
 
   -- Total merchandise and service revenues of $4.9 billion, an increase of 
      4.1%. Same-store merchandise revenues2 increased by 1.7% in the United 
      States, and by 1.2% in Europe and other regions1, while it remained 
      stable in Canada. Consolidated same-store merchandise revenues1 increased 
      by 1.6%. 
 
   -- Merchandise and service gross margin1 decreased by 0.5% in the United 
      States to 34.1% and by 0.6% in Canada to 33.3%, while it increased by 
      0.7% in Europe and other regions to 39.6%. 
 
   -- Same-store road transportation fuel volumes decreased by 1.6% in the 
      United States and by 4.3% in Europe and other regions, while it increased 
      by 1.1% in Canada. 
 
   -- Road transportation fuel gross margin1 of 52.61c per gallon in the 
      United States, an increase of 8.61c per gallon, US 11.34c per liter in 
      Europe and other regions, a decrease of US 0.07c per liter, and CA 16.79c 
      per liter in Canada, an increase of CA 2.58c per liter. 
 
   -- Subsequent to the end of the first quarter of fiscal 2027, the 
      Corporation announced plans to acquire all of the issued and outstanding 
      shares of Żabka Group (Żabka), Poland's largest convenience 
      retailer, operating more than 13,000 convenience stores across Poland and 
      Romania. Shareholders owning approximately 57% of Żabka's issued and 
      outstanding shares, have entered into separate hard irrevocable 
      agreements to tender all of their shares of Żabka into the voluntary 
      tender offer initiated by the Corporation. 
 
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(1)  Please refer to the "Non-IFRS Accounting Standards Measures" section for 
     additional information on performance measures not defined by 
     IFRS(R) Accounting Standards. 
(2)  This measure represents the growth of (decrease in) cumulative 
     merchandise revenues between the current period and comparative period 
     for those stores that were open for at least 23 days out of every 28-day 
     period included in the reported periods. Merchandise revenues are defined 
     as Merchandise and service revenues excluding service revenues. 
 

Summary of the First Quarter of Fiscal 2027

For its first quarter ended July 19, 2026, Couche-Tard reported net earnings attributable to shareholders of the Corporation of $828.5 million, representing $0.90 per share on a diluted basis, compared with $782.5 million for the corresponding quarter of fiscal 2026, representing $0.82 per share on a diluted basis. The results for the first quarter of fiscal 2027 were affected by a pre-tax net foreign exchange gain of $2.7 million and by pre-tax acquisition costs of $0.6 million. The results for the comparable quarter of fiscal 2026 were affected by a pre-tax gain of $66.4 million on regulatory divestitures related to the GetGo acquisition, by a pre-tax net foreign exchange gain of $14.2 million and by pre-tax acquisition costs of $10.0 million. Excluding these items, the adjusted net earnings attributable to shareholders of the Corporation(3) were approximately $827.0 million, or $0.90 per share on a diluted basis for the first quarter of fiscal 2027, compared with $737.0 million, or $0.78 per share on a diluted basis for the corresponding quarter of fiscal 2026, an increase of 15.4% in the adjusted diluted net earnings per share(1) . This increase is primarily driven by higher road transportation fuel gross margin(1) , by the contribution from acquisitions, by positive organic growth in our convenience activities as well as by the impact of share repurchases, partly offset by the impact of inflation and strategic investments on our operating expenses. All financial information presented is in US dollars unless stated otherwise.

 
_____________________________________ 
(1)  Please refer to the "Non-IFRS Accounting Standards Measures" section for 
     additional information on performance measures not defined by IFRS 
     Accounting Standards. 
 

Significant Items of the First Quarter of Fiscal 2027

   -- Renewal of the share repurchase program, effective on July 23, 2026, 
      allowing to repurchase up to 74.2 million shares, representing 10.0% of 
      public float as at July 9, 2026, and ending no later than July 22, 2027. 
      During the first quarter of fiscal 2027, we repurchased 0.4 million 
      shares for an amount of $26.0 million, which includes associated taxes of 
      $0.5 million. 
 
   -- On May 6, 2026, we fully repaid, upon maturity, our EUR750.0 million 
      ($876.5 million) Euro-denominated senior unsecured notes issued on May 6, 
      2016. 
 
   -- On July 31, 2026, subsequent to the end of the quarter, we announced our 
      plans to acquire all of the issued and outstanding shares of publicly 
      traded Żabka Group ("Żabka"), Poland's largest convenience 
      retailer, through a voluntary tender offer launched by our wholly owned 
      subsidiary, Circle K Polska sp. z o.o. The offer values Żabka at 
      approximately PLN 32.6 billion ($8.6 billion). Founded in 1998 and 
      headquartered in Poznań, Poland, Żabka has a network of more 
      than 13,000 convenience stores across Poland and Romania, operating 
      through an entrepreneurial franchise model. The transaction is subject to 
      customary regulatory approvals and other closing conditions and is 
      expected to close before the end of fiscal 2027. The transaction would 
      provide us with a scaled convenience retail platform in Central and 
      Eastern Europe while complementing our existing operations in Poland and 
      is expected to be financed using available cash and new and existing 
      credit facilities. In relation with the transaction and subsequent to the 
      end of the quarter, we have entered into certain currency derivatives to 
      manage our exposure to the fact that the purchase of the shares through 
      the tender offer would be settled, at the election of each selling 
      shareholder, either in polish zloty or in euro. 

Changes in our Network during the First Quarter of Fiscal 2027

   -- We acquired two company-operated stores. We settled the transactions 
      using our available cash. 
 
   -- During the quarter, we completed the construction of 12 stores and the 
      relocation or reconstruction of 8 stores reaching a total of 20 stores 
      since the beginning of fiscal 2027. As of July 19, 2026, another 42 
      stores were under construction and should open in the upcoming quarters. 

Summary of changes in our store network

The following table presents certain information regarding changes in our store network over the 12-week period ended July 19, 2026(1) :

 
                            12-week period ended July 19, 2026 
                    -------------------------------------------------- 
                                                Franchised and 
                     Company-                            other 
Type of site         operated   CODO   DODO         affiliated   Total 
                    ---------  -----  -----  -----------------  ------ 
Number of sites, 
 beginning of 
 period                10,730  1,354  1,369              1,110  14,563 
   Acquisitions             2     --     --                 --       2 
   Openings / 
    constructions 
    / additions            12     --      6                  6      24 
   Closures / 
    disposals / 
    withdrawals          (51)     --    (6)               (23)    (80) 
   Store 
    conversions            --    (5)     --                  5      -- 
------------------  ---------  -----  -----  -----------------  ------ 
Number of sites,