Casey's General Stores (CASY) Tops Q3 EPS by 20c

Casey's General Stores (NASDAQ: CASY) reported Q3 EPS of $2.33, $0.20 better than the analyst estimate of $2.13. Revenue for the quarter came in at $3.33 billion versus the consensus estimate of $3.53 billion.

Fiscal 2024 Outlook:

The Company is reaffirming its annual outlook. Same-store inside sales is expected to increase 3.5% 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 6% to 8%, though same-store operating expenses excluding credit card fees are expected to only increase approximately 3% for the year. Fiscal 2024 EBITDA growth is expected to be in-line with the long-term strategic plan's goal of 8% to 10%. The Company expects to add at least 150 stores in fiscal 2024. Net interest expense is expected to be approximately $53 million. Depreciation and amortization is 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. The Company expects to repurchase at least $100 million in shares throughout the fiscal year.

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

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