Casey's General Stores (CASY) Tops Q1 EPS by $1.14

Casey's General Stores (NASDAQ: CASY) reported Q1 EPS of $4.52, $1.14 better than the analyst estimate of $3.38. Revenue for the quarter came in at $3.87 billion versus the consensus estimate of $3.89 billion.

GUIDANCE:

Fiscal 2024 Outlook

Casey's is updating its fiscal 2024 outlook as a result of the pending transactions and now expects to add at least 150 stores in fiscal 2024.

The Company is not updating its outlook for the following metrics. Casey’s currently expects inside same-store sales to increase 3% to 5%. We expect inside margin improvement 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%. 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 $500 to $550 million The tax rate is expected to be approximately 24% to 26% for the year.

For earnings history and earnings-related data on Casey's General Stores (CASY) click here.

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