CASY - Caseys General Stores GAAP EPS of $1.49 misses by $0.14 revenue of $3.33B misses by $50M

2023-06-06 17:11:32 ET

• Caseys General Stores press release ( NASDAQ: CASY ): Q4 GAAP EPS of $1.49 misses by $0.14 .
• Revenue of $3.33B (-3.8% Y/Y) misses by $50M .
• Inside same-store sales up 6.5% with an inside margin of 39.6%. Total inside gross profit increased 8.9% to $445.5 million compared to the prior year.
• Fuel same-store gallons were flat with a fuel margin of 34.6 cents per gallon. Total fuel gross profit decreased 2.2% to $219.7 million compared to the prior year.
• Same-store labor hours decreased by 3.3% compared to the prior year.
• In June, Casey's increased the quarterly dividend 13% to $0.43 per share, marking the 24th consecutive annual increase.
• 2024 Outlook: Casey's expects the following performance during fiscal 2024. The Company expects inside same-store sales to increase 3% to 5% and to improve inside margin to approximately 40% to 41%. The Company expects same-store fuel gallons sold to be between negative 1% to positive 1%. Total operating expenses are expected to increase approximately 5% to 7%. The Company expects to add approximately 110 stores in fiscal 2024. Net interest expense is expected to be approximately $55 million. Depreciation and amortization is expected to be approximately $340 million and the purchase of property and equipment is expected to be approximately $500 to $550 million. The tax rate is expected to be approximately 24% to 26% for the year.
• Shares -4.12% AH.

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