- Casey’s 3Q EPS beat estimates with $2.33 versus last year’s $2.67, surpassing the estimate of $2.13.
- Adjusted Ebitda was $218.7 million, a decrease of 1.9% from last year, but it exceeded the estimate of $209.6 million.
- The revenue remained the same as last year at $3.33 billion, falling short of the estimated $3.54 billion.
- Fuel revenue was at $2.05 billion, marking a 4.9% decrease from last year, lower than the estimated $2.27 billion.
- Grocery & General Merchandise revenue increased by 8.8% from last year to $865.5 million, slightly below the estimate of $866.5 million.
- Prepared Food & Dispensed Beverage revenue was $349.4 million, up by 11% from last year, almost meeting the estimate of $349.5 million.
- Other revenue decreased by 5.3% from last year to $62.6 million, lower than the estimated $68.6 million.
- Same-store gallons decreased by 0.4%, lower than the estimated increase of 0.18%.
- Same-store grocery sales increased by 2.8%, slightly higher than the estimated 2.58%.
- Same-store prepared food sales increased by 7.5%, surpassing the estimated 6.08%.
- Fuel gross profit was $257.2 million, a decrease of 2% from last year, lower than the estimated $262.4 million.
- Total operating expenses are expected to increase by 6% to 8%, but same-store operating expenses excluding credit card fees are expected to only increase by approximately 3% for the year.
- Fiscal 2024 EBITDA growth is expected to align with the long-term strategic plan’s goal of 8% to 10%.
- Depreciation and amortization are expected to be approximately $350 million for the year and the purchase of property and equipment is expected to be between $500 to $550 million.
- The tax rate is expected to be approximately 23% to 25% for the year.
- Inside same-store sales were driven by prepared food and dispensed beverage, with whole pies and hot sandwiches performing exceptionally well.
Casey’S General Stores on Smartkarma
According to a recent report by Baptista Research on Smartkarma, Casey’s General Stores is making bold moves in expanding into new territories, and it seems to be paying off. The report, titled “Casey’s General Stores: Initiation of Coverage – Exploding Across New Territories – How Their Bold Expansion is Winning the Market! – Major Drivers“, highlights the company’s strong performance in the previous quarter and provides a fundamental analysis of its historical financial statements.
The report, which is the first on Casey’s General Stores by Baptista Research, notes that the company delivered strong second-quarter results. This is a positive sign for investors, as it indicates the company’s ability to perform well even during challenging times. With top independent analysts like Baptista Research publishing research on companies like Casey’s General Stores on Smartkarma, investors can make informed decisions about their investments.
A look at Casey’S General Stores Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 2 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
According to the Smartkarma Smart Scores, Casey’s General Stores has a positive long-term outlook. The company has an overall score of 3 out of 5, indicating a good outlook for the future.
Casey’s General Stores, Inc. is a convenience store chain that operates in the Midwest. Their stores, known as Casey’s General Store, offer a variety of products including food, drinks, tobacco, beauty products, and automotive items. They also sell gasoline. With a score of 3 for value, 2 for dividend, and 4 for both growth and momentum, the company is showing promising signs of success in the long run.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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