Casey’s(US:CASY)2025-06-09 20:35Financial Performance - Casey's reported a net income of $546.5 million for fiscal year 2025, an increase of 8.9% compared to the previous year, with EBITDA reaching $1.2 billion, up 13.3%[4] - Net income for the twelve months ended April 30, 2025, was $546,520 thousand, a 8.9% increase from $501,972 thousand in 2024[21] - Net income for the three months ended April 30, 2025, was $98,307,000, an increase from $87,020,000 in 2024, representing a growth of 14.7%[33] - EBITDA for the twelve months ended April 30, 2025, reached $1,200,047,000, compared to $1,059,398,000 in 2024, reflecting a year-over-year increase of 13.3%[33] - Revenue for the twelve months ended April 30, 2025, reached $15,940,899 thousand, up from $14,862,913 thousand in 2024, marking a growth of 7.2%[23] Sales and Profitability - Inside same-store sales increased by 2.6% for the fiscal year, with total inside gross profit rising 12.5% to $582.4 million[6] - Fuel gross profit increased by 21.4% to $307.8 million, with total fuel gallons sold rising 17.8% year-over-year[8] - Gross profit margin for Prepared Food & Dispensed Beverage was 58.2% for the fiscal year 2025, slightly down from 58.7% in 2024[24] - Same-store sales margin for Prepared Food & Dispensed Beverage decreased to 3.5% in fiscal year 2025 from 6.8% in fiscal year 2024[24] - Fuel gallons sold increased to 3,196,852 for the twelve months ended April 30, 2025, compared to 2,828,669 in 2024, reflecting a growth of 13.0%[23] Store Expansion and Customer Engagement - The company opened or acquired 270 stores during the fiscal year, the highest in its history, including the acquisition of Fikes Wholesale and its 198 CEFCO convenience stores[6] - Casey's Rewards membership grew to over 9 million by year-end, indicating strong customer engagement[6] Financial Position and Liquidity - The company maintained a strong balance sheet, finishing the year with a debt-to-EBITDA ratio of 1.9x[6] - Available liquidity at April 30, 2025, was approximately $1.2 billion, consisting of $327 million in cash and $900 million in undrawn borrowing capacity[12] - Total assets increased to $8,208,118 thousand as of April 30, 2025, up from $6,347,433 thousand in the previous year, representing a growth of 29.2%[19] - Cash and cash equivalents at the end of the period were $326,662 thousand, up from $206,482 thousand, indicating a 58.0% increase[21] Investments and Acquisitions - The company invested $1,239,249 thousand in acquisitions during the fiscal year 2025, compared to $330,032 thousand in 2024, representing a substantial increase of 275.5%[21] - The company has outlined potential growth opportunities and strategic plans, including the integration and financial performance of acquired stores[34] Operating Expenses and Other Financial Metrics - Operating expenses for the fourth quarter increased by 14.5%, primarily due to operating 246 additional stores compared to the prior year[9] - Interest expenses for the three months ended April 30, 2025, were $27,916,000, up from $14,494,000 in 2024, indicating an increase of 92.9%[33] - Federal and state income taxes for the twelve months ended April 30, 2025, totaled $165,929,000, compared to $154,188,000 in 2024, marking an increase of 7.6%[33] - Depreciation and amortization for the three months ended April 30, 2025, was $107,443,000, up from $92,344,000 in 2024, which is an increase of 16.4%[33] Future Outlook - The company expects EBITDA to increase by 10% to 12% in fiscal 2026, with inside same-store sales projected to rise by 2% to 5%[15] - The company emphasizes that forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations[34] Dividends and Shareholder Returns - A quarterly dividend of $0.57 per share was announced, marking a 14% increase and the 26th consecutive annual increase[14] Investor Relations - The earnings conference call is scheduled for June 10, 2025, at 7:30 a.m. CDT, and will be accessible via the company's investor relations website[35] - Investor relations and media contacts are available for further inquiries, with specific contact details provided[36]