Mon, Dec 9, 9:19 PM (67 days ago)
For the quarter ending October 31, 2024, Casey's General Stores, Inc. (NASDAQ: CASY) reported total revenue of $3,946,771, a 2.9% decrease from the previous year, primarily due to a decline in fuel revenue. However, prepared food and dispensed beverage sales increased by 9.2%, driven by strong same-store sales growth of 5.2%. Net income rose by 13.9% to $180,918, reflecting improved profitability despite higher operating expenses, which increased by 5.2% due to the expansion of store operations. Cash flow from operations improved to $552,057, up from $481,780, aided by effective inventory management. The company’s liquidity position is solid, with a current ratio of 0.88 and significant restricted cash of $1,160,118 earmarked for the recent Fikes Wholesale acquisition, which closed post-quarter. Long-term debt increased significantly due to new borrowings for this acquisition, totaling $2,461,922. The effective tax rate rose slightly to 24.5%. Overall, Casey's demonstrated resilience in a challenging retail environment, with strategic growth initiatives and a focus on operational efficiency.