Loading...
•
Jan 31, 2024
Casey's Q3 2024 Earnings Report
Casey's reported solid Q3 2024 results, highlighted by inside gross profit growth.
Key Takeaways
Casey's Q3 2024 earnings saw a decrease in diluted EPS by 13% to $2.33 compared to the previous year. Net income also decreased by 13% to $87 million, and EBITDA decreased by 2% to $218 million. Inside same-store sales increased by 4.1%, driven by prepared food and dispensed beverage, while same-store fuel gallons decreased by 0.4% with a fuel margin of 37.3 cents per gallon.
Diluted EPS decreased by 13% to $2.33 compared to the same period last year.
Inside same-store sales increased by 4.1%, with an inside margin of 41.3%.
Total inside gross profit increased by 11.3% to $501.5 million compared to the prior year.
Same-store fuel gallons were down 0.4% compared to the prior year with a fuel margin of 37.3 cents per gallon.
Revenue by Segment
Forward Guidance
The Company is reaffirming its annual outlook. Same-store inside sales is expected to increase 3.5% to 5%. We expect inside margin improvement to approximately 40% to 41%. The Company expects same-store fuel gallons sold to be between negative 1% to positive 1%. Total operating expenses are expected to increase approximately 6% to 8%, though same-store operating expenses excluding credit card fees are expected to only increase approximately 3% for the year.
Positive Outlook
- Same-store inside sales is expected to increase 3.5% to 5%.
- Inside margin improvement to approximately 40% to 41%.
- Same-store fuel gallons sold to be between negative 1% to positive 1%.
- Total operating expenses are expected to increase approximately 6% to 8%, though same-store operating expenses excluding credit card fees are expected to only increase approximately 3% for the year.
- Fiscal 2024 EBITDA growth is expected to be in-line with the long-term strategic plan's goal of 8% to 10%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...