Casey’s(US:CASY)2025-03-11 20:31Financial Performance - Net income for the third quarter was $87.1 million, flat compared to the prior year, with diluted EPS also flat at $2.33[5] - Total revenue for the third quarter increased by 17.2% to $3.9 billion, driven by a 15.3% rise in inside sales and a 20.4% increase in fuel gallons sold[18] - EBITDA for the third quarter rose 11.4% to $242.4 million, primarily due to higher inside and fuel gross profit[6] - Net income for the nine months ended January 31, 2025, was $448,213 thousand, compared to $414,952 thousand for the same period in 2024, reflecting an increase of 8.0%[22] - Net income for the three months ended January 31, 2025, was $87,097,000, compared to $86,933,000 for the same period in 2024, reflecting a slight increase[27] - EBITDA for the nine months ended January 31, 2025, reached $937,030,000, up from $840,372,000 in 2024, indicating a growth of approximately 11.5%[27] Sales and Revenue Growth - Inside same-store sales increased by 3.7% year-over-year, with prepared food and dispensed beverage same-store sales up 4.7%[7] - Same-store fuel gallons sold increased by 1.8%, with total fuel gross profit up 17.4% to $302.1 million[8] - Revenue for the three months ended January 31, 2025, was $3,903,633 thousand, up from $3,329,247 thousand in the same period of 2024, indicating a growth of 17.2%[24] - Same-store sales growth for prepared food and dispensed beverage was 4.7% for the fiscal year 2025[24] Expenses and Liabilities - Total operating expenses increased by approximately 18%, influenced by operating 254 additional stores and one-time costs from the Fikes acquisition[9] - Total liabilities increased to $4,802,862 thousand as of January 31, 2025, from $3,332,052 thousand on April 30, 2024, an increase of 43.9%[20] - Interest expenses increased to $29,415,000 for the three months ended January 31, 2025, compared to $14,146,000 in 2024, showing a significant rise[27] - Federal and state income taxes for the nine months ended January 31, 2025, totaled $136,578,000, compared to $129,020,000 in 2024, marking an increase of about 5.4%[27] - Depreciation and amortization expenses for the three months ended January 31, 2025, were $105,203,000, up from $88,950,000 in 2024, reflecting a growth of approximately 18.3%[27] Liquidity and Capital - As of January 31, 2025, the company had approximately $1.3 billion in available liquidity, including $395 million in cash[12] - Cash and cash equivalents at the end of the period increased to $394,815 thousand from $177,881 thousand year-over-year, a rise of 121.5%[22] - The company reported a significant increase in payments for acquisition of businesses, net of cash acquired, totaling $1,211,567 thousand for the nine months ended January 31, 2025, compared to $296,809 thousand in 2024[22] Future Outlook - The company expects fiscal year 2025 EBITDA to increase approximately 11% and plans to add around 270 stores[15][16] - The company is exploring growth opportunities and potential impacts from the Fikes transaction, with expectations for future periods being cautiously optimistic[28] - The company acknowledges risks related to the execution of its strategic plan and the integration of acquired stores, which may affect future performance[28] Corporate Governance - The board approved a quarterly dividend of $0.50 per share, payable on May 15, 2025[14] - The earnings conference call is scheduled for March 12, 2025, at 7:30 a.m. CDT, providing an opportunity for investors to gain insights into the company's performance[29] - Corporate information and earnings details can be accessed through the company's investor relations website[29] - Investor relations contact is Brian Johnson, reachable at (515) 446-6587, for any inquiries related to financial performance[30]