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Couche - Tard R CIRCLE K ALIMENTATION COUCHE - TARD ANNOUNCES ITS RESULTS FOR ITS THIRD QUARTER OF FISCAL YEAR 2021 ingo Net earnings attributable to shareholders of the Corporation ( " net earnings ” ) were $ 607.5 million or $ 0.55 per diluted share for the third quarter of fiscal 2021 compared with $ 659.9 million or $ 0.59 per diluted share for the third quarter of fiscal 2020. Adjusted net earnings were approximately $ 622.0 million¹ compared with $ 581.0 million¹ for the third quarter of fiscal 2020. Adjusted net earnings per share on a diluted basis were $ 0.56¹ , representing an increase of 7.7 % from $ 0.52¹ for the corresponding quarter of last year . The COVID - 19 pandemic continues to have a meaningful impact on the Corporation's quarterly financial results . Traffic remained soft throughout its network due to increased restrictive social measures and continued work from home trends across the various geographies in which it operates . However , consolidation of trips , new shopping options and adapted product offerings enabled growth of merchandise sales . From a fuel perspective , volumes continued to be challenged by work from home trends and evolving local restrictions , while fuel margins remained healthy despite a persistent rise in product costs during the quarter . Total merchandise and service revenues of $ 4.5 billion , an increase of 5.6 % . Same - store merchandise revenues increased 2.9 % in the U.S. , 2.8 % in Europe and other regions , and 4.7 % in Canada . Merchandise and service gross margin decreased 1.0 % in the U.S. to 33.0 % , 0.7 % in Canada to 32.2 % , and 3.8 % in Europe and other regions to 38.5 % , which was impacted by the integration of Circle K HK . Merchandise and service gross margins were negatively impacted by COVID - 19 related impacts . Same - store road transportation fuel volume decreased 15.7 % in the U.S. , 10.3 % in Europe and other regions , and 19.9 % in Canada , as many areas were impacted by significant lockdowns , in particular urban markets . Road transportation fuel gross margin increased by 4.82 ¢ per gallon in the U.S. to 31.86 ¢ per gallon , by US 2.86 ¢ per liter in Europe and other regions to US 11.36 ¢ per liter , and by CA 2.30 ¢ per liter in Canada to CA 10.36 ¢ per liter . Normalized operating , selling , administrative and general expenses declined 0.1 % as disciplined cost control compensated for the additional COVID - 19 related expenses . The Corporation completed the acquisition of Convenience Retail Asia ( BVI ) Limited ( " Circle K HK " ) for $ 381.2 million . Circle K HK results are presented under Europe and other regions . The Corporation renewed its share repurchase program which allows it to repurchase up to 4.0 % of the public float of its Class B subordinate voting shares . Share repurchases totaled $ 897.9 million since the renewal of the program . - The Corporation's cash position remains strong , with access to approximately $ 5.3 billion through its available cash and revolving unsecured operating credit facility . Its leverage ratio² stood at 1.36 : 1 , on a pro forma basis . Return on capital employed² stood at 16.4 % , on a pro forma basis . Laval , Québec , Canada March 17 , 2021 For its third quarter ended January 31 , 2021 , Alimentation Couche - Tard Inc. ( " Couche - Tard " or the " Corporation " ) ( TSX : ATD.A ) ( TSX : ATD.B ) announces net earnings attributable to shareholders of the Corporation of $ 607.5 million , representing $ 0.55 per share on a diluted basis . The results for the third quarter of fiscal 2021 were affected by a pre - tax net foreign exchange loss of $ 16.5 million , as well as by pre - tax acquisition costs of $ 5.2 million . The results for the comparable quarter of fiscal 2020 were affected by a pre - tax net gain of $ 61.5 million on the disposal of its interests in CAPL , a positive impact on income tax of $ 29.0 million from an adjustment to deferred tax assets , a pre - tax net foreign exchange gain of $ 5.4 million and pre - tax acquisition costs of $ 2.9 million . Excluding these items , the adjusted net 1 Please refer to the section " Net earnings attributable to shareholders of the Corporation ( " net earnings " ) and adjusted net earnings attributable to shareholders of the Corporation ( " adjusted net earnings " ) " of this press release for additional information on this performance measure not defined by IFRS . 2 Please refer to the section " Summary Analysis of Consolidated Results for the Third Quarter and First Three Quarters of Fiscal 2021 " of this press release for additional information on these performance measures not defined by IFRS . Press release Q3 2021 Alimentation Couche - Tard Inc. Page 1 of 11