Alimentation Couche-Tard Inc. (ANCUF.PK,ATD_B.TO,ATD_A.TO) reported second-quarter net earnings of $415.7 million, up 45.1% over the corresponding period of fiscal 2015. The company noted that its results for the second quarter of fiscal 2016 include a pre-tax preliminary net gain of $47.4 million from the disposal of lubricants business and a total of $8.6 million in pre-tax non-recurring integration costs and expenses in connection with global brand initiatives, as well as a pre-tax net foreign exchange loss of $1.9 million.
Net earnings per share was $0.73, compared to $0.50, previous year. Excluding items, adjusted net earnings per share would have been $0.66 for the second quarter of fiscal 2016, an increase of 20.0% compared with adjusted net earnings per share of $0.55 for the second quarter of fiscal 2015. The company said this increase is mainly attributable to the solid contribution from acquisitions, to continued strong organic growth and to slightly higher road transportation fuel margins.
On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.64 for the quarter. Analysts' estimates typically exclude special items.
Revenues were $8.4 billion for the second quarter of fiscal 2016, a decrease of 5.7% compared with the corresponding quarter of fiscal 2015. Analysts expected revenue of $8.89 billion for the quarter.
The Corporation's Board has approved an increase in the quarterly dividend of 1.25 cents (in CA) per share to 6.75 cents per share, an increase of more than 22%. The Board declared a quarterly dividend of 6.75 cents per share for the second quarter of fiscal 2016 to shareholders on record as at December 3, 2015 and approved its payment for December 17, 2015.
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