Alimentation Couche-Tard cuts leverage to 1.13x via free cash flows

By Devika Patel

Knoxville, Tenn., Nov. 25 – Alimentation Couche-Tard Inc. reduced its leverage ratio to 1.13x at the end of the last quarter, thanks to the quarter’s high free cash flows.

“During the quarter, we continued to generate significant free cash flows and saw our leverage ratio decline further to 1.13x,” chief financial officer Claude Tessier said on the company’s second quarter ended Oct. 11 earnings conference call on Wednesday.

As of Oct. 11, the company had $3.5 billion in cash and an additional $2.5 billion available through its revolving credit facility.

“[At the end of the quarter,] we had ample balance sheet flexibility,” Tessier said.

Alimentation Couche-Tard is a Quebec-based convenience store operator.

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