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Industry NewsAlimentation Couche-Tard announces Q4 results for fiscal 2022

Alimentation Couche-Tard announces Q4 results for fiscal 2022

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For its fourth quarter ended April 24, 2022, Alimentation Couche-Tard Inc. has announced net earnings of $477.7 million, representing $0.46 per share on a diluted basis. The results for the fourth quarter of fiscal 2022 were affected by a pre-tax impairment loss of $56.2 million resulting from the deconsolidation and impairment of Russian subsidiaries, a pre-tax impairment loss of $33.7 million on the company’s investment in Fire & Flower Holdings Corp., a pre-tax expense of $15.1 million due to a change in the accounting policy relating to cloud computing arrangements, a pre-tax net foreign exchange gain of $3.0 million, as well as pre-tax acquisition costs of $0.9 million. The results for the comparable quarter of fiscal 2021 were affected by a pre-tax expense of $29.1 million following the delivery of an early redemption notice of senior unsecured notes, a pre-tax gain on disposal of $26.6 million related to the sale of a property located in Toronto, Canada, pre-tax acquisition costs of $1.5 million, as well as by a pre-tax net foreign exchange loss of $1.1 million. Excluding these items, the adjusted net earnings1 were approximately $573.0 million, or $0.55, per share on a diluted basis for the fourth quarter of fiscal 2022, compared with $564.0 million, or $0.52, per share on a diluted basis for the fourth quarter of fiscal 2021, an increase of 5.8% in the adjusted diluted net earnings per share1, driven by higher road transportation fuel margins in the United States and Canada, by organic growth in the convenience activities, as well as by the favourable impact of the share repurchase program, partly offset by higher operating expenses. All financial information presented is in U.S. dollars unless stated otherwise. 

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