Casey';s Issues Business Update
Casey’s General Stores (Nasdaq: CASY) provided a business update ahead of its upcoming roadshow. For the third quarter, same-store inside sales are projected to increase by 5-7%, while same-store fuel gallons are expected to see a flat to 2% rise. Fuel margins remain stable compared to the previous quarter. Notably, the company received a $15 million one-time payment from resolved legal matters, positively impacting operating expenses. This payment was not included in prior guidance. Overall, the company's performance aligns with expectations, though expense growth is projected near the low end of the annual 9-10% range.
- Third quarter same-store inside sales expected to increase by 5-7%.
- Same-store fuel gallons projected to rise flat to 2%.
- Stable fuel margins compared to the previous quarter.
- Received a $15 million one-time payment, reducing operating expenses.
- Total operating expense growth expected near the low end of the 9-10% annual range.
Third quarter to date performance remains consistent with our expectations for the full year. Specifically, same-store inside sales for the quarter are in the lower half of our annual range of a 5
During the quarter the company received an approximately
About Casey’s
Casey’s is a Fortune 500 company (Nasdaq: CASY) operating over 2,400 convenience stores. Founded more than 50 years ago, the company has grown to become the third-largest convenience store retailer and the fifth-largest pizza chain in
Cautionary Statements
This release contains statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including those related to expectations for future periods, possible or assumed future results of operations, financial conditions, liquidity and related sources or needs, business and/or integration strategies, plans and synergies, supply chain, growth opportunities, performance at our stores. There are a number of known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from any results expressed or implied by these forward-looking statements, including but not limited to the execution of our strategic plan, the integration and financial performance of acquired stores, wholesale fuel, inventory and ingredient costs, distribution challenges and disruptions, the impact and duration of COVID-19 and related governmental actions, the impact and duration of the conflict in
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Investor Relations Contact:
Brian.johnson@caseys.com
Media Relations Contact:
Katie.petru@caseys.com
Source: Casey’s General Stores
FAQ
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