Casey’s(CASY) - 2026 Q1 - Quarterly Results

Financial Performance - For the first quarter ended July 31, 2025, net income was $215.4 million, up 19.5% from $180.2 million in the prior year, with diluted EPS increasing to $5.77 from $4.83[5] - Total revenue for the quarter was $4.57 billion, up 11.5% from $4.10 billion in the same period last year[17] - Gross profit for the same period in 2025 was $1,112,446, compared to $955,256 in 2024, reflecting a gross margin of 24.4% in 2025 versus 23.3% in 2024[23] - EBITDA for the three months ended July 31, 2025, was $414,270, up from $345,782 in 2024, indicating a year-over-year increase of 19.9%[27] - Net income for the three months ended July 31, 2025, was $215,355, compared to $180,198 in 2024, marking a growth of 19.5%[27] Sales Performance - Inside same-store sales increased by 4.3% year-over-year, with total inside sales reaching $1.68 billion, a 14.2% increase compared to the previous year[7] - Same-store sales for prepared food and dispensed beverage in fiscal 2025 were 3.5%, with a margin of 58.2%[23] - Same-store fuel gallons sold increased by 1.7%, with total fuel gallons sold reaching 911.8 million, an 18.0% increase year-over-year[8] - Fuel gallons sold increased to 911,780 in the three months ended July 31, 2025, compared to 772,536 in 2024, representing a growth of 18.0%[23] Expenses and Liquidity - Operating expenses for the quarter were $698.2 million, a 14.6% increase from $609.5 million in the prior year, primarily due to operating 221 additional stores[9] - Cash paid for interest in the three months ended July 31, 2025, was $26,896, significantly higher than $11,845 in 2024[22] - The company had approximately $1.4 billion in available liquidity, including $458 million in cash and cash equivalents[12] Strategic Initiatives - The company expects EBITDA to increase by 10% to 12% for fiscal 2026, with inside same-store sales projected to rise by 2% to 5%[15] - The company plans to open at least 80 new stores in fiscal 2026, contributing to a total of approximately 500 stores over a three-year strategic plan[15] - The company plans to continue evaluating acquisition targets and assessing performance as part of its strategic initiatives[25] Shareholder Returns - During the quarter, the company repurchased approximately $31 million of shares, with $264 million remaining under its share repurchase authorization[13] - The board approved a quarterly dividend of $0.57 per share, payable on November 14, 2025[14] Forward-Looking Statements - Forward-looking statements indicate potential growth opportunities and risks related to supply chain and geopolitical factors[28]