The following is a summary of the Alimentation Couche-Tard Inc. (ANCTF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Alimentation Couche-Tard's Q3 2024 net earnings attributable to shareholders stand at $623.4 million or $0.65 per share (diluted).

• Despite a $62 million or 1.2% increase in merchandise and services revenue primarily driven by acquisitions, merchandise and service gross profit has only seen a rise of about $48 million or 2.9% due to a decrease in traffic.

• The healthy fuel gross margin sees a slight decrease compared to previous levels.

• SG&A for Q3 2024 sees a 1.6% decrease YOY due to the company's strategic expense control efforts, including store labor efficiencies.

• The company exceeded the $50 million target on the planned $800 million cost reduction program, and also noted a 1.6% decrease in operating expenses YOY.

Business Progress:

• Couche-Tard's Inner Circle loyalty program now enlists 1,600 members with nearly 5 million fully-enrolled members in the US.

• The company successfully completed an acquisition from TotalEnergies, adding 2,175 sites across 4 countries to its network and nearly 22,000 new employees. Integration is on track, and the first two Circle K locations are already rebranded.

• The EV fast-charging network now consists of over 2,400 charging points, with a commitment to deploy chargers at 200 sites.

• In line with the five-year goal of building 500 new stores, the company is set to open approximately 100 in North America in the current fiscal year.

• Investments are being made in benefits, training, and team member engagement to improve retention and turnover in North American stores.

• Despite softness in the market, the company's diversified business is demonstrating resilience, with management expressing faith in their five-year program.

• Mergers and acquisitions remain part of their strategic growth with a robust deal flow promising better price deals.

• The company is extending its EV charging business to new regions like Germany and Belgium.

• Despite weak diesel demand, the company expects a return to normal trends by early Q2.

More details: ALIMENTATION COUCHE-TARD IR

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