LAVAL, Que. - Alimentation Couche-Tard Inc. says its third-quarter revenues dropped nearly 21 per cent as fuel volumes plunged 20 per cent in North America during COVID-19.

The Quebec-based convenience store operator says revenues decreased to US$13.16 billion from US$16.6 billion in the third quarter of 2019.

Its net income attributable to shareholders was US$607.5 million, a decrease of 7.9 per cent from US$659.9 million a year earlier when it benefited from the sale of its interests in CrossAmerica Partners LP.

Adjusted profits for the three months ended Jan. 31 increased to US$622 million or 56 cents per diluted share, up from US$581 million or 52 cents per share a year earlier.

Couche-Tard was expected to report 56 cents per share in adjusted profits on US$13.74 billion of revenues, according the financial data firm Refinitiv.

The company said the pandemic continues to have a “meaningful impact” on results as traffic remained soft due to increased lockdowns and people continuing to work from home.