Couche-Tard reports US$863.4M in Q4 profit, up year-over-year from US$439.4M
– Alimentation Couche-Tard Inc.’s net earnings attributable to shareholders came in at US$863.4 million during the fourth quarter, up from US$439.4 million during the same period last year.
That amounted to diluted net earnings per share of 94 cents US during the fourth quarter, up from 46 cents US during the prior year quarter.
The Laval, Que.-based company, which keeps its books in U.S. dollars, says its total revenue came in at US$19.5 billion, rising year-over-year from US$16.27 billion.
The company says higher average fuel selling prices helped to increase revenue during the period.
Couche-Tard says its total merchandise and service revenue came in at US$4.5 billion, rising 7.7 per cent from US$4.19 billion.
Couche-Tard CEO Alex Miller says the company’s strategy, which it unveiled in February, is driving strong momentum across its U.S. business.
This report by The Canadian Press was first published June 22, 2026.
Summary
- ATD.TO rose sharply over the past 10 trading days: C$84.24 on Jun. 15 → C$93.43 on Jun. 26 = +C$9.19 / +10.9%.
- The move was almost entirely from Jun. 23, when the stock jumped +11.68% after Q4/FY2026 results.
- Main driver: earnings beat + strong fuel margins + better adjusted EPS.
- Q4 adjusted diluted EPS rose 58.7% YoY to US$0.73.
- After the spike, the stock stalled near C$93–94, suggesting profit-taking near the new high.
10-Day Price Action
| Date | Close | Daily Move |
|---|---|---|
| Jun. 15 | C$84.24 | -0.08% |
| Jun. 16 | C$83.46 | -0.93% |
| Jun. 17 | C$83.62 | +0.19% |
| Jun. 18 | C$82.44 | -1.41% |
| Jun. 19 | C$82.37 | -0.08% |
| Jun. 22 | C$82.26 | -0.13% |
| Jun. 23 | C$91.87 | +11.68% |
| Jun. 24 | C$93.76 | +2.06% |
| Jun. 25 | C$93.57 | -0.20% |
| Jun. 26 | C$93.43 | -0.15% |
Source: Investing.com historical data.
Why It Moved
1. Earnings surprise
Couche-Tard reported Q4 fiscal 2026 net earnings of US$863.4M, or US$0.94/share, versus US$439.4M, or US$0.46/share, last year. Adjusted EPS was US$0.73, up 58.7% YoY.
2. Fuel margins were strong
Q4 road transportation fuel gross profit rose US$418.5M YoY. U.S. fuel margin increased 9.17¢/gallon to 52.44¢/gallon; Canada fuel margin increased 3.23¢/litre to CA17.28¢/litre.
3. Merchandise growth was positive, but not perfect
Merchandise and service revenue rose US$321.7M YoY. U.S. merchandise margin improved, but Canada merchandise margin fell to 33.5%, pressured by product mix and competition.
4. The stock paused after the spike
After +11.68% on Jun. 23 and +2.06% on Jun. 24, ATD slipped slightly on Jun. 25 and Jun. 26. That is normal profit-taking after a large earnings gap.
Valuation Logic
| Factor | Impact |
|---|---|
| EPS beat | Positive |
| Strong fuel margins | Positive |
| Merchandise growth | Positive |
| Canadian merchandise margin pressure | Negative |
| Fast 2-day price jump | Raises pullback risk |
| Near C$95.15 high | Upside now needs confirmation |
The key technical area is C$95.15, the recent high from Jun. 24. Failure to break above it keeps the stock in a consolidation zone.
Scenarios
| Scenario | Trigger | Price implication |
|---|---|---|
| Bull | Holds above C$93 and breaks C$95.15 | Momentum continues |
| Base | Earnings rerating holds, but no new catalyst | Range C$91–95 |
| Bear | Profit-taking after earnings gap | Pullback toward C$87–90 |
Actionable Takeaways
ATD.TO’s 10-day move was earnings-driven. The stock jumped because Q4 profit, adjusted EPS, and fuel margins were much stronger than expected. The main risk now is not fundamentals; it is post-earnings profit-taking after a fast rerating
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