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Company News

CORRECTED-BUZZ-Alimentation Couche-Tard: Rises on quarterly profit beat

(Corrects first bullet to C$ from $)

** Shares of Canada-based convenience store operator up 1.6% at C$44 after beating quarterly profit estimates

** ATD beats quarterly profit estimates for the fifth time in seven quarters, this time helped by margin-boosting U.S. fuel and coffee sales

** Volatility in crude oil prices as well as improved sourcing conditions supported gross margin rise in the U.S. fuel segment - Chief Financial Claude Tessier on post-earnings conference call

** Couche-Tard on Monday had sweetened its approach for fuel retailer Caltex Australia with an A$8.61 billion offer in a bid to expand into Asia

** However, it missed second-quarter revenue estimates, hurt by lower fuel selling prices, marking its fourth straight miss

** Including session’s gains, stock up 30% this year and is set for best year in five (Reporting by Praveen Paramasivam in Bengaluru)

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