Couche-Tard’s U.S. fuel margin hit 52.61 cents. Same-store gallons fell 1.6 percent

Sept. 1, 2026 — Alimentation Couche-Tard reported its first quarter of fiscal 2027, the 12 weeks ended July 19. U.S. road-transportation fuel gross margin was 52.61 cents per gallon, up 8.61 cents from a year earlier. The company credited market opportunities, supply conditions, and execution. Canada’s margin was CA 16.79 cents per liter, up CA 2.58 cents. Europe was US 11.34 cents per liter, down US 0.07 cent.

Volumes went the other way. Same-store fuel volumes fell 1.6 percent in the United States and 4.3 percent in Europe, which the company tied to high retail prices. Canada rose 1.1 percent. Total road-transportation fuel revenue was $16.7 billion, up $4.1 billion, mostly because the average selling price was higher — about $3.9 billion of the increase — plus about $436 million from acquisitions, partly offset by softer demand.

Fuel gross profit was $1.8 billion, up $241.1 million, or about 14.8 percent after currency. CEO Alex Miller called fuel “a source of strength” and pointed to a fifth straight quarter of positive U.S. same-store merchandise sales. The merchandise line and the gallon line are not the same machine. This quarter, margin paid and U.S. same-store gallons did not.

Source: Alimentation Couche-Tard quarterly release, Sept. 1, 2026.