Canadian convenience store operator Alimentation Couche-Tard reported positive numbers for its fourth quarter.
Earnings for the Laval, Canada-based operator were just over $670 million for the period ending on April 30 — an almost a $200 million increase year-over-year, reports Marketwatch.
Revenue declined compared to Q4 2022 — $16.26 billion vs. $16.43 billion — but it still beat stock projections of $16.14 billion.
The company said foreign currency translated into U.S. dollars was partly behind the drop in revenue numbers.
“We are excited by the recent progress and positive environment for growth through acquisitions after many years of inflated multiples and assets, which were not the right fit for our business,” said Couche-Tard CEO Brian Hannasch.
