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Apr 30, 2022
Casey's Q4 2022 Earnings Report
Casey's reported a strong Q4 2022 with increased EPS and same-store sales growth.
Key Takeaways
Casey's General Stores announced record fiscal year results, driven by strong inside sales, fuel volume, and strategic acquisitions. Q4 2022 saw a 43% increase in diluted EPS, positive same-store sales growth in both inside and fuel categories, and expansion of the store network.
Diluted EPS increased by 43% to $1.60 compared to the same period last year.
Inside same-store sales grew by 5.2%, with a margin of 39.4%.
Fuel same-store gallons sold increased by 1.5%, with a fuel margin of 36.2 cents per gallon.
The company increased the quarterly dividend by 9% to $0.38 per share, marking the 23rd consecutive annual increase.
Casey's
Casey's
Casey's Revenue by Segment
Revenue by Segment
Prepared Food & Beverage Revenue
CapyFin.comGrocery & Gen Merchandise Revenue
CapyFin.comFuel Revenue
CapyFin.com Forward Guidance
Casey's expects same-store inside sales to increase 4% to 6% and maintain an inside margin of approximately 40%. The company anticipates same-store fuel gallons to be flat to 2% higher. Total operating expenses are expected to increase approximately 9% to 10%. Casey's expects to add approximately 80 stores in fiscal 2023.
Positive Outlook
- Same-store inside sales to increase 4% to 6%.
- Maintain an inside margin of approximately 40%.
- Same-store fuel gallons to be flat to 2% higher.
- Add approximately 80 stores in fiscal 2023.
- Exceed stated three-year commitment of 345 units.
Challenges Ahead
- Total operating expenses are expected to increase approximately 9% to 10%.
- Interest expense is expected to be approximately $55 million.
- Depreciation and amortization is expected to be approximately $320 million.
- Purchase of property plant and equipment is expected to be approximately $450 to $500 million, including approximately $135 million in one-time store remodel costs for recently acquired stores.
- The tax rate is expected to be approximately 24% to 26% for the year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income