Alimentation Couche-Tard (ATD) Q4 2026 earnings summary

Executive summary

• Fiscal 2026 was exceptional, with strong execution of the Core + More strategy, driving growth, market share gains, and customer engagement across all regions.

• U.S. operations delivered their best performance in years, with notable traffic growth, robust same-store sales, and disciplined expense management keeping expense growth below inflation.

• Canada achieved record EBITDA, while Europe benefited from a diversified footprint and successful integration of acquired sites.

• The company completed 130 store projects in fiscal 2026 and remains on track to build 750 new stores by 2030.

• Digital and loyalty initiatives, including Inner Circle and Extra, are driving customer engagement and pump-to-store conversions.

Financial highlights

• Q4 net earnings were $863.4 million ($0.94 per diluted share), including a $260.9 million one-time gain; adjusted net earnings were $667 million ($0.73 per share), up 58.7% year-over-year.

• Fiscal 2026 net earnings reached $3.1 billion, up 21.8% from fiscal 2025; adjusted net earnings were $2.9 billion, up 12.1%.

• Total revenues for Q4 were $19.5 billion, up 19.8% year-over-year; fiscal 2026 revenues were $76.5 billion, up 5.0%.

• Adjusted EBITDA for Q4 rose 28.9% to $1.56 billion; for the year, adjusted EBITDA increased 10.8%.

• Merchandise and service revenues grew 5.8% in Q4 and 5.5% for the year; gross profit increased 7.1% in Q4 and 6.4% for the year.

Outlook and guidance

• Management expressed strong confidence in achieving the financial framework of over 10% organic EPS growth in fiscal 2027.

• Momentum from Q4 has continued into Q1, with robust trends in traffic, margins, and same-store sales.

• Synergies from the TotalEnergies acquisition are on track, with run rate expected to reach €120 million in fiscal 2027 and €170 million in fiscal 2029.