Financial Data and Key Metrics Changes - Diluted EPS increased by 7% to $4.83 per share, with net income rising by 6% to $180 million and EBITDA growing by 9% to $346 million compared to the prior year [6][15] - Total revenue for the quarter reached $4.1 billion, a 5.9% increase from the previous year, driven by higher inside sales and fuel gallons sold [9][10] - Gross profit was $955 million, an increase of 8.8% from the prior year, with inside gross profit margin at 41.7%, up 110 basis points [12][15] Business Line Data and Key Metrics Changes - Inside same-store sales rose by 2.3%, with prepared food and dispensed beverage sales up 4.4% and grocery and general merchandise sales up 1.6% [7][8][10] - Prepared food and dispensed beverage sales increased by 8.7% to $405 million, while grocery and general merchandise sales rose by 7.2% to $1.07 billion [10][12] - Fuel same-store gallons sold increased by 0.7%, with a fuel margin of $0.407 per gallon [8][13] Market Data and Key Metrics Changes - The company outperformed its geographic region in fuel volume, with the Mid-Continent region down approximately 5% in the quarter [8] - Same-store sales growth in grocery and general merchandise was impacted by a strong prior year quarter and lottery-related traffic anomalies [36][37] Company Strategy and Development Direction - The company is focused on expanding its store base, raising its three-year store growth target to approximately 500 stores, accelerated by the Fikes acquisition [16][20] - Enhancements in operational efficiency are being pursued, with a continuous improvement team achieving reductions in same-store labor hours for nine consecutive quarters [22] - The company aims to balance fuel gallons with gross profit dollars while maintaining a strong value proposition in prepared foods [23] Management's Comments on Operating Environment and Future Outlook - Management noted that the consumer base remains stable, with higher-income consumers showing no significant changes in purchasing behavior, while lower-income consumers are slightly adjusting their basket sizes [24][25] - The company expects continued inflation in cheese costs but is managing overall profitability effectively [26][27] - The outlook for the second quarter remains positive, with expectations for operating expenses to be within annual ranges despite one-time costs related to the Fikes transaction [19] Other Important Information - The Fikes acquisition has a gross purchase price of $1.145 billion, with expected synergies and a focus on integrating the acquired stores into the Casey's operational framework [17][18] - The company generated $181 million in free cash flow for the quarter, compared to $160 million in the prior year [15] Q&A Session Summary Question: Consumer health in light of recent trends - Management indicated that higher-income consumers are maintaining purchasing habits, while lower-income consumers are buying fewer items per visit [24][25] Question: Gross margin concerns regarding cheese costs - Management confirmed that about 25% of cheese requirements are hedged, and they are managing overall profitability rather than focusing solely on prepared food margins [26][27] Question: Continuous improvement initiatives - Management highlighted recent initiatives like digital production planning and inventory organization that have improved efficiency and reduced waste [30][32] Question: Prepared food performance across different markets - Management noted no significant differences in prepared food performance across geographic markets, with strong growth in lunch offerings [33] Question: Inside same-store sales growth - Management attributed softer grocery sales to cycling over a strong prior year and lottery-related traffic anomalies [35][36] Question: Private label performance - Management reported steady performance in private label sales, contributing positively to grocery margins [40][41] Question: Future M&A activity - Management stated they are always looking for acquisition opportunities but will be cautious about taking on additional leverage [42][43] Question: CapEx for Fikes acquisition - Management anticipates approximately $145 million in CapEx for renovations and retrofitting Fikes stores [44] Question: Fuel supply chain updates - Management confirmed progress in upstream fuel purchasing capabilities and the benefits of acquiring expertise through the Fikes transaction [57][58] Question: Cheese usage in prepared foods - Management indicated that cheese is the largest commodity used in prepared foods, with over 40 million pounds consumed in the last fiscal year [59] Question: Impact of Department of Labor overtime rule - Management expects minimal impact from the upcoming overtime rule, as most affected team members are already above the threshold [61]

For the quarter ended July 2024, Casey's General Stores (CASY) reported revenue of $4.1 billion, up 5.9% over the same period last year. EPS came in at $4.83, compared to $4.52 in the year-ago quarter. The reported revenue represents a surprise of -0.34% over the Zacks Consensus Estimate of $4.11 billion. With the consensus EPS estimate being $4.54, the EPS surprise was +6.39%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determ ...

Casey's General Stores (CASY) came out with quarterly earnings of $4.83 per share, beating the Zacks Consensus Estimate of $4.54 per share. This compares to earnings of $4.52 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 6.39%. A quarter ago, it was expected that this convenience store chain would post earnings of $1.70 per share when it actually produced earnings of $2.34, delivering a surprise of 37.65%. Over the last fou ...

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, no par value per share CASY The NASDAQ Global Select Market FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-34700 CASEY'S GENERAL STORES, INC. ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Casey's General Stores, Inc. One SE Convenience Blvd Ankeny, IA 50021 Casey's Announces First Quarter Results Ankeny, IA, September 4, 2024 - Casey's General Stores, Inc. ("Casey's" or the "Company") (Nasdaq: CASY) one of the leading convenience store chains in the United States, today announced financial results for the three months ended July 31, 2024. First Quarter Key Highlights • Diluted EPS of $4.83, up 7% from the same period a year ago. Net income was $180 million, ...

Casey's General Stores, Inc. CASY will release earnings results for its first quarter, after the closing bell on Wednesday, Sept. 4. Read This Next: Analysts expect the Ankeny, Iowa-based company to report quarterly earnings at $4.52 per share, compared to $4.52 per share in the year-ago period. Casey's is projected to post revenue of $4.2 billion, according to data from Benzinga Pro. On July 26, Caseys announced it will acquire Fikes Wholesale for $1.145 billion to expand its presence in Texas and southern ...

Group 1: Cintas Corporation - Cintas will complete a 4:1 stock split in September, which is expected to lead to a significant increase in stock price, supported by strong fundamentals [2] - The company operates in a fragmented market, providing uniform rental and ancillary services, with organic growth projected at a mid-single-digit pace for 2024 [3] - Cintas reported a 22% operating margin, positive cash flow, and a nearly 3X increase in cash, alongside increased assets and decreased debt [3][4] - The company has a dividend yield of 0.78% and a payout ratio under 40%, allowing for distribution increases driven by earnings growth forecasted between 7.5% and over 10% [4] - Cintas has a strong balance sheet with total long-term liabilities less than 1X equity, positioning it well for continued investment in growth [4] Group 2: Casey's General Stores - Casey's General Stores operates a growing chain of gas stations and convenience stores, producing solid cash flows and improving margins [5] - The company reported a 5.6% increase in inside sales and 1% growth in sold fuel gallons, with guidance for continued organic and store count growth in F2025 [5][6] - Casey's shares have increased by 35% in 2024 and over 400% in the last decade, reflecting strong performance [5] Group 3: Shopify - Shopify is positioned as a necessary eCommerce platform for small businesses and larger firms, with strong double-digit growth and improved margins expected in 2024 [9][10] - The company has significantly improved free cash flow, with a low leverage ratio of about 0.15X equity and 0.2X assets, allowing for continued growth and reinvestment [10] - Shopify's cash flow is expected to remain strong, supporting debt reduction and balance sheet improvement, setting the stage for future dividends and share repurchases [10]

Casey's General Stores, Inc. (CASY) is poised to release its first-quarter earnings for fiscal 2025 on Sep. 4 after the closing bell. Investors are anticipating another decent performance from this convenience store chain operator, with expectations of both revenue growth and a slight uptick in earnings per share. Analysts are optimistic about Casey's revenue prospects for the quarter. The Zacks Consensus Estimate places revenues at $4,112 million, indicating a 6.3% increase compared to the same quarter las ...

In its upcoming report, Casey's General Stores (CASY) is predicted by Wall Street analysts to post quarterly earnings of $4.50 per share, reflecting a decline of 0.4% compared to the same period last year. Revenues are forecasted to be $4.11 billion, representing a year-over-year increase of 6.3%. The consensus EPS estimate for the quarter has undergone a downward revision of 0.4% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed th ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Casey's General Stores (CASY) , which belongs to the Zacks Retail - Convenience Stores industry, could be a great candidate to consider. This convenience store chain has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 21.78%. Fo ...