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Casey's General Stores Inc (CASY) is a leading convenience store chain in the Midwestern United States. Founded in 1959 by Don Lamberti in Des Moines, Iowa, the company has grown from a single store into a network of over 2,500 convenience stores across several Midwestern states. Casey's stores offer a wide range of products, including self-service gasoline, grocery items, and freshly prepared foods such as pizza, donuts, and sandwiches.
One of Casey's key strengths is its integrated supply chain. The company operates its own distribution centers, which ensures timely and efficient delivery of products and fuel to its stores. This vertical integration not only reduces costs but also helps maintain consistent product quality. Additionally, Casey's owns the majority of its real estate, including stores, distribution centers, and various facilities, thereby reducing rental expenses and increasing operational flexibility.
Casey's stores are strategically located in small and rural communities, primarily with populations of fewer than 5,000 people. This focus allows Casey's to cater to underserved markets, providing essential goods and services where they are most needed. The company's stores are known for their cleanliness, well-maintained facilities, and excellent customer service.
In recent years, Casey's has been actively modernizing its operations. The company has introduced various digital initiatives, including a user-friendly mobile app and an online ordering system, to enhance the customer experience. These efforts have been well-received, leading to increased customer engagement and sales growth.
Financially, Casey's continues to perform robustly, with consistent revenue growth and strong profitability. The company has also embarked on several strategic partnerships and acquisitions to expand its market presence and diversify its product offerings. These initiatives align with Casey's long-term vision of becoming the preferred convenience store brand in the Midwest.
Casey’s General Stores (NASDAQ: CASY) has announced its acquisition of 40 Pilot convenience stores for $220 million. This all-cash transaction will enhance Casey’s presence in Tennessee and Kentucky, particularly in the Knoxville area. The acquisition aims to integrate high-performing stores into Casey’s fresh food program, highlighting their handmade pizza offerings. The deal is expected to be funded through cash and bank financing, pending regulatory approvals.
Casey’s has introduced its first-ever handmade breakfast lineup at over 2,300 stores, featuring the Signature Handheld, Loaded Breakfast Burrito, and Loaded Breakfast Bowl. These offerings are designed for convenience, catering to busy morning routines. A recent survey indicates that 70% of Americans consider breakfast essential, with many seeking quick solutions. Additionally, Casey’s is promoting its new bean-to-cup coffee and celebrating the 20th birthday of its iconic breakfast pizza with special discounts. Promotions include a free coffee with purchases and discounts on breakfast pizza.
Casey's General Stores (CASY) reported strong first-quarter financial results for the period ended July 31, 2021. Inside same-store sales rose 8.0% with total gross profit increasing 16.7% to $463.5 million. Fuel gallons sold also grew by 9.0%, boosting fuel gross profit by 11.6% to $234.5 million. However, diluted EPS slightly decreased to $3.19 from $3.24 due to higher depreciation expenses from operating 166 additional stores. The company announced a dividend increase to $0.35 per share for the 22nd consecutive year and maintained its fiscal 2022 outlook.
Casey's General Stores (NASDAQ: CASY) plans to release its first quarter fiscal 2022 results post-market close on September 7, 2021. A conference call and webcast will follow on September 8 at 7:30 AM Central Time, allowing stakeholders to review the quarterly results. The live event will be available on Casey’s Investor Relations webpage, with an audio replay accessible for twelve months thereafter.
Casey’s has launched a new giving campaign to support local schools across 16 states through its Cash for Classrooms Grant Program. Customers are encouraged to round up their purchases to contribute to the initiative. In addition, Keurig Dr Pepper will donate $1 for every CORE Hydration water combo sold, up to $25,000, while Casey’s will donate $1 for every large pizza sold on August 30, up to $100,000. In 2021, the program awarded $1 million through 99 grants focusing on various educational needs.
Casey’s General Stores (NASDAQ: CASY) has appointed Gregory A. Trojan to its Board of Directors, expanding the board to ten members. With over 25 years of experience in retail and restaurant sectors, Trojan brings significant expertise, previously holding leadership roles at BJ’s Restaurants, Guitar Center, and PepsiCo. Board Chair Lynn Horak anticipates that his diverse consumer-focused experience will greatly benefit Casey’s growth. CEO Darren Rebelez expresses confidence in leveraging Trojan’s industry insights to enhance the company's foodservice programs and retail leadership.
Casey's General Stores reported Q4 and FY 2021 results, showing diluted EPS of $1.12 and $8.38 respectively. Fuel margin decreased to 33.0 cents per gallon, with fuel same-store gallons sold rising 6.4%. Inside same-store sales surged by 12.8%, driven by improved guest counts and strategic sourcing initiatives. Annual digital sales jumped 96%, with 3.6 million rewards members. The Buchanan Energy acquisition is expected to add $45 million in annual EBITDA. However, operating expenses increased significantly, anticipated to rise by mid-teen percentages in FY 2022.
Casey’s General Stores (NASDAQ: CASY) will announce its fourth quarter fiscal 2021 results on June 8, 2021, after market close. A conference call for discussing these results will take place on June 9, 2021, at 7:30 am CST. Interested parties can access a live webcast on Casey's Investor Relations webpage. The company operates over 2,300 convenience stores and is recognized as a leading retailer in this sector, as well as the fifth-largest pizza chain in the U.S.
Casey’s General Stores, Inc. (Nasdaq: CASY) has successfully completed the acquisition of Buchanan Energy, enhancing its presence in the Midwest, particularly in Nebraska and Illinois. This significant milestone marks the largest transaction in Casey's 52-year history, aligning with their strategic goal to add 345 stores by 2023. Casey's will divest six stores as required by the Federal Trade Commission, which won't materially affect the transaction's financial impact. The acquisition expands Casey's store count to over 2,300 and aims to integrate Bucky’s successful business model.
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