Wed, Sep 4, 10:30 PM (132 days ago)
For the quarter ending July 31, 2024, Casey's General Stores, Inc. reported total revenue of $4,097,737, a 5.9% increase from $3,869,251 in the prior year. Net income rose 6.5% to $180,198, with diluted earnings per share increasing to $4.83 from $4.52. The company experienced growth in prepared food and dispensed beverages (up 8.7%) and grocery and general merchandise (up 7.2%). Fuel revenue also improved, driven by an 8.2% increase in gallons sold despite a slight decrease in average retail price. Cash flow from operations improved to $281,354, reflecting better revenue management. However, operating expenses rose 8.7% due to increased store count and one-time acquisition costs. Long-term debt decreased to $1,398,712, with a current ratio of 0.84, signaling tighter liquidity. The company is poised for future growth, including a significant acquisition of 198 stores, expected to close later in 2024. Despite market uncertainties, including fuel price volatility and economic conditions, Casey's remains focused on enhancing its operational footprint and financial performance.