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MC CIRCLE K TM ingo ■ ■ • " ■ ALIMENTATION COUCHE - TARD ANNOUNCES ITS RESULTS FOR ITS FIRST QUARTER OF FISCAL YEAR 2022 Net earnings were $ 764.4 million , or $ 0.71 per diluted share for the first quarter of fiscal 2022 compared with $ 777.1 million , or $ 0.70 per diluted share for the first quarter of fiscal 2021. Adjusted net earnings¹ were approximately $ 758.0 million compared with $ 795.0 million for the first quarter of fiscal 2021. Adjusted diluted net earnings per share¹ were $ 0.71 , unchanged compared with the corresponding quarter of last year . As we compare against a quarter fully impacted by the COVID - 19 pandemic , results varied by region as the pandemic and social restrictive measures were at different levels year - over - year . Merchandise categories most impacted by COVID - 19 , such as food , continue to show a positive trend and , on a 2 - year basis , convenience activities performed well in our global network . Fuel margins continue to be higher than pre - pandemic levels , while fuel volumes continue to be challenged by work from home trends and changes in local restrictions . Total merchandise and service revenues of $ 4.1 billion , an increase of 5.4 % . Same - store merchandise revenues decreased 0.2 % in the United States and 9.6 % in Canada , and increased 5.9 % in Europe and other regions . On a 2 - year basis , same - store merchandise revenues increased at a compound annual growth rate of 3.7 % in the United States , 4.9 % in Europe , and 4.2 % in Canada . Merchandise and service gross margin decreased 0.1 % in the United States to 34.2 % , and 2.2 % in Europe and other regions to 38.4 % , which was impacted by the integration of Circle K Hong Kong . Gross margin in Canada increased 1.2 % to 32.3 % , due to favorable changes in product mix . Same - store road transportation fuel volume increased 11.8 % in the United States , 6.3 % in Europe and other regions , and 10.4 % in Canada , due to higher fuel demand compared to the corresponding quarter . On a 2 - year basis , same - store road transportation fuel volume decreased at a compound annual growth rate of 6.1 % in the United States , 3.3 % in Europe , and 9.4 % in Canada , still impacted by work from home trends . Road transportation fuel gross margin of 36.75 ¢ per gallon in the United States , a decrease of 4.55 ¢ per gallon , and US 10.32 ¢ per liter in Europe and other regions , a decrease of US 0.19 ¢ per liter , due to the unusually high fuel margins of the comparable quarter . In Canada , it increased by CA 0.67 ¢ per liter to CA 10.92 ¢ per liter . Fuel margins remained healthy , driven by favorable market conditions , procurement initiatives and fuel rebranding . Looking at gross profit¹ on a 2 - year basis provides additional insight given the volatility in the various key measures of our business . Excluding the impact of CAPL and Circle K Hong Kong , merchandise and service , as well as road transportation fuel gross profit , are higher by 10.9 % and 19.4 % , respectively , compared with the pre - pandemic first quarter of fiscal 2020 . Successful issuance of $ 1.0 billion of US - dollar - denominated senior unsecured notes , including an inaugural tranche of Green Bonds totaling $ 350.0 million . The Corporation implemented a share repurchase program which allows it to repurchase up to 4.0 % of the public float of its Class B subordinate voting shares . Under this program , shares for an amount of $ 299.2 million were repurchased . - August 31 , 2021 - Laval , Québec , Canada For its first quarter ended July 18 , 2021 , Alimentation Couche - Tard Inc. ( " Couche - Tard " or the " Corporation " ) ( TSX : ATD.A ) ( TSX : ATD.B ) announces net earnings of $ 764.4 million , representing $ 0.71 per share on a diluted basis . The results for the first quarter of fiscal 2022 were affected by a pre - tax net foreign exchange gain of $ 8.6 million , as well as pre - tax acquisition costs of $ 0.8 million . The results for the comparable quarter of fiscal 2021 were affected by a pre - tax net foreign exchange loss of $ 18.4 million , as well as pre - tax acquisition costs of $ 3.9 million . Excluding these items , the adjusted net earnings were approximately $ 758.0 million for the first quarter of fiscal 2022 , compared with $ 795.0 million for the first quarter of fiscal 2021 , a decrease of $ 37.0 million , or 4.7 % , driven by lower road transportation fuel margins in the United States and higher operating expenses , partly offset by higher fuel demand and the net positive impact from the translation of its Canadian and European operations into US dollars . The adjusted diluted net earnings per share¹ stood at $ 0.71 , stable compared with the corresponding quarter of fiscal 2021. All financial information presented is in US dollars unless stated otherwise . 1 Please refer to the section " Non - IFRS Measures " for additional information on performance measures not defined by IFRS . Press release Q1 2022 Alimentation Couche - Tard Inc. Page 1 of 12