Q: Please comment on the latest results released after market closed today and going forward.Txs for u usual great services & views
5i Research Answer:
EPS was 48c, vs 50c estimated. Sales were $17.59B, vs estimates of $17.02B. Europe and Canadian sales missed estimates and were weaker than expected. EBITDA was $1.14B, vs estimates $1.19B. While sales beat estimates, fuel sales were lower than expected. US fuel margins remained good, but overall US fuel revenue fell 8.8%. Total sales fell 1.7%. Same store sales fell 0.5% in the US but fell 3.5% in Canada. Disciplined cost control helped the company offset still-high inflation pressures. Overall, not great results, but fuel was the main factor, and it is a volatile component of earnings.