Executive Summary

• Alimentation Couche-Tard reported fiscal 3Q16 revenues of $9.3 billion, up 2.5% year over year but missing the consensus estimate of $9.9 billion. Comps increased by 0.5% in the US, by 3.4% in Europe and by 0.2% in Canada.
• Adjusted EPS was $0.53, missing the consensus estimate of $0.59 but representing a 3.9% increase from $0.51 in the year-ago quarter.
• The company highlighted the ongoing strategic actions it took in the quarter, including the rebranding of certain Circle K stores, a fuel-rebranding project and an acquisition agreement with Imperial Oil.