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Apr 30, 2023
Casey's Q4 2023 Earnings Report
Casey's reported fourth-quarter results with EPS of $1.49 and inside same-store sales up 6.5%.
Key Takeaways
Casey's announced its Q4 results, with diluted EPS at $1.49 compared to $1.60 in the prior year. Inside same-store sales increased by 6.5%, while fuel same-store gallons were flat. The company added 81 new stores during the fiscal year, ending with a total of 2,521 stores.
Diluted EPS was $1.49, a decrease from $1.60 in the prior year.
Inside same-store sales increased by 6.5%, with an inside margin of 39.6%.
Fuel same-store gallons remained flat, with a fuel margin of 34.6 cents per gallon.
Casey's increased the quarterly dividend by 13% to $0.43 per share.
Revenue by Segment
Forward Guidance
Casey's expects inside same-store sales to increase 3% to 5% and to improve inside margin 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 5% to 7%. The Company expects to add approximately 110 stores in fiscal 2024. Net interest expense is expected to be approximately $55 million. Depreciation and amortization is expected to be approximately $340 million and the purchase of property and equipment is expected to be approximately $500 to $550 million. The tax rate is expected to be approximately 24% to 26% for the year.
Positive Outlook
- Inside same-store sales to increase 3% to 5%.
- Inside margin to improve to approximately 40% to 41%.
- Same-store fuel gallons sold to be between negative 1% to positive 1%.
- Expects to add approximately 110 stores in fiscal 2024.
- Tax rate is expected to be approximately 24% to 26% for the year.
Challenges Ahead
- Total operating expenses are expected to increase approximately 5% to 7%.
- Net interest expense is expected to be approximately $55 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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