EarningsQ1 2027 Earnings Report
MX:ATDN Q1 2027 EPS Results
Actual EPS$16.35
Consensus EPS$16.25
Beat/MissBeat by +$0.09
One Year Ago EPS$14.17
MX:ATDN Q1 2027 Revenue Results
Actual Revenue$386.31B
Expected Revenue$378.83B
Beat/MissBeat by +$7.48B
YoY Revenue Growth+27.15%
Earnings Announcement Details
QuarterQ1 2027
Date09/01/2026
TimeAfter Close
Conference CallTuesday, September 1, 2026
MX:ATDN Upcoming Earnings
Alimentation Couche-Tard Inc's next earnings date is estimated for December 1, 2026, based on past reporting schedules.
Q1 2027 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q1 2027 Earnings Slide Deck
Q1 2027 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly constructive, with 10.5% adjusted EBITDA growth, 15.4% adjusted EPS growth, positive merchandise same-store sales for the fifth consecutive quarter, strong performance in energy, nicotine, food, loyalty and e-mobility, disciplined expense growth and a significant strategic acquisition. These strengths were partly offset by more deliberate consumer spending, softness in traditional center-store categories, declining fuel volumes in the U.S. and Europe, North American merchandise margin erosion, regulatory pressure in Canadian nicotine and expected leverage above the company's comfort range at the Zabka closing. Overall, highlights significantly outweighed the lowlights.Company Guidance
Adjusted EBITDA and EPS Growth
Adjusted EBITDA increased 10.5%, while adjusted diluted earnings per share increased 15.4% year-over-year. Adjusted net earnings were approximately $827 million, or $0.90 per adjusted diluted share, and net earnings attributable to shareholders were $829 million, or $0.90 per diluted share.
Merchandise Same-Store Sales Growth
Merchandise same-store sales increased 1.6% across the network, led by 1.7% growth in the United States, marking the fifth consecutive quarter of positive same-store sales growth. Europe and other regions increased 1.2%.
Canada Fuel Volume Growth
Canada extended its positive fuel-volume trend to eight consecutive quarters, with same-store fuel volumes up 1.1% in the quarter. Every North American business unit posted positive forecourt traffic.
Fuel Platform Performance
U.S. fuel margins remained well ahead of the competitive set, and the company delivered fuel profitability across the network. Management said its sourcing, supply, pricing and network-management platform helped it gain sequential market share in the U.S.
B2B Fuel Momentum
Mobile payment adoption in Europe increased roughly 40% year-over-year, while the Circle K Pro card contributed to another quarter of growth with North American fleet operators, increasing B2B volumes by 20%.
Energy and Functional Beverage Growth
Energy delivered double-digit growth in the U.S. and represented roughly 70% of the category's gains. Protein beverages and enhanced hydration also grew meaningfully. Energy delivered high single-digit growth in Canada, with similar performance across energy and functional beverages in Europe.
Nicotine Category Strength
U.S. other nicotine products posted double-digit same-store sales growth, led by pouches and significantly outpacing the broader market. U.S. cigarette same-store sales increased for the third consecutive quarter and outperformed industry volume trends by roughly 400 basis points. In Europe, pouches delivered solid high single-digit same-store sales growth in several markets.
Food Growth and Meal Deal Adoption
Food represented 13.2% of merchandise sales. Nearly 14 million meal deal bundles were sold during the quarter, up nearly 20% from last year. U.S. food sales grew 5.2%, U.S. hot food grew more than 11%, Canada food grew 4.3%, and Europe food grew 3.6%.
Flamin' Hot Wings Launch
The U.S. Flamin' Hot Boneless Wings collaboration with PepsiCo and Frito-Lay was selling more than 40,000 units per week following its rollout across the fresh food network and was helping drive larger food baskets. Customers were also trading up into higher-value prepared food offerings, with the hot food mix increasing since launch.
New Store Expansion and Returns
The company added 26 sites across North America and Europe, had approximately 42 stores under construction, and expected to open more than 100 stores in fiscal 2027. New stores had food sales 120% above the network average, while merchandise sales and basket size were 20% higher. Management remained committed to its long-term target of 750 new stores by 2030, with NTI returns averaging in the high teens on return on capital over the last several years.
Zabka Acquisition Agreement
The company agreed to acquire a controlling stake in Zabka Group, described as a transformational investment that accelerates the Core + More strategy, expands the global footprint and adds capabilities in food, private brands, supply chain, digital engagement, loyalty and personalization. Closing was expected by the end of calendar 2026.
Zabka Supply Chain Capabilities
Zabka operates eight warehouses in Poland, has two more under construction, supplies 99.8% of goods to nearly 13,000 sites in Poland, and has more than 20% lower delivery cost of goods than Couche-Tard for stores in the comparison cited by management. The company said Zabka could help service parts of its European network and advance supply-chain capabilities.
E-Mobility Expansion
The European charging network exceeded 4,900 charge points, up 32% from last year. Charging transactions increased more than 40%, utilization moved higher, and European EV charging gross profit increased nearly 40% compared with the same period last year.
Loyalty and Digital Engagement
The U.S. added more than 1 million Inner Circle members during the quarter, bringing membership to nearly 16 million. Nearly one in three transactions came from a loyalty member, while Inner Circle-attributable traffic increased 30% versus last year. In Europe, Extra 2.0 drove a 13% increase in traffic across legacy markets, and combining EV and loyalty experiences in one app increased EV traffic among app members by 19%.
Expense Discipline and Productivity
Normalized expenses increased 2.7% year-over-year, well below the weighted average inflation rate across the network. Store labor hours per location declined 1.1%, and overtime trends across North America continued to improve. Management said productivity initiatives and procurement savings enabled continued investment while maintaining a lean cost structure.
RELEX Deployment and Availability Improvement
RELEX deployment expanded from approximately 200 stores to more than 1,000 locations across North America. Product availability on RELEX-managed items improved by more than 5%, supported by stronger forecasting, replenishment and space planning.
Balance Sheet and Liquidity
The leverage ratio declined to 1.77x from 1.99x at the end of fiscal 2026. The company had approximately $3 billion in cash and an additional $3.5 billion available through its revolving unsecured operating credit facility. Return on equity was 19.7%, return on capital employed was 13.7%, and the board declared a quarterly dividend of CAD 0.215 per share.
Early Signs of Sequential Improvement
Management said second-quarter sales to date were similar to first-quarter levels, with U.S. merchandise same-store sales around 1.7%, but noted acceleration in the past couple of weeks and expressed optimism about sequential improvement. U.S. CPG was up in the high 40s, costs in period four were under control, and the company delivered margin capture in period four.
MX:ATDN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed