M
ME NEWS
12 Mar 2025, 05:09
Casey’s General Stores, Inc. (NASDAQ: CASY) – Q3 2025 Earnings Summary
Date: March 11, 2025
Location: Ankeny, IA
Key Highlights (Q3 2025 vs. Q3 2024)
✔ Revenue: $3.90 billion, up from $3.33 billion (+17.2%)
✔ Net Income: $87.1 million, flat compared to $86.9 million
✔ Diluted EPS: $2.33, unchanged from prior year
✔ EBITDA: $242.4 million, up 11.4% from $217.6 million
Operational Performance
Inside Store Sales & Margins
✔ Inside same-store sales: +3.7% YoY
✔ Total inside sales: $1.4 billion, up 15.3%
✔ Inside margin: 40.9% (-0.4% YoY)
✔ Prepared Food & Beverages: +4.7% same-store sales growth
✔ Grocery & General Merchandise: +3.3% same-store sales growth
Fuel Sales & Margins
✔ Total fuel gallons sold: 829.8 million, up 20.4%
✔ Same-store fuel gallons: +1.8% YoY
✔ Fuel margin: 36.4 cents per gallon, down from 37.3 cents
Operating Expenses & Expansion
✔ Operating expenses: $670.2 million, up 18%
✔ Store growth: +235 new stores (21 newly built, 228 acquired, 14 closed)
✔ Same-store labor hours: Reduced for the 11th consecutive quarter
Financial Position & Capital Allocation
✔ Liquidity: $1.3 billion (includes $395M cash, $900M credit)
✔ CapEx Forecast: $500 million in fiscal 2025
✔ Debt: $2.44 billion, up due to Fikes acquisition
✔ Dividend: $0.50/share, payable May 15, 2025
✔ Share repurchase: No buybacks this quarter; $295 million authorization remains
Fiscal 2025 Updated Guidance
✔ EBITDA: Expected +11% growth
✔ Same-store inside sales: +3% to +5%
✔ Same-store fuel gallons: -1% to +1%
✔ Operating expenses: +11% to +13% (including $25-$30M in Fikes deal costs)
✔ Tax rate: 23%-25%
CEO Comments – Darren Rebelez
???? "Casey's delivered an excellent third quarter with strong inside and fuel sales. Our prepared food and dispensed beverages category, especially hot sandwiches and bakery, saw strong demand. We also achieved 1.8% same-store gallon growth in fuel, while adding significant store count through acquisitions, notably Fikes."
Investor Call Information
Date: March 12, 2025
Time: 7:30 AM CDT
???? Webcast: Casey's Investor Relations
Bottom Line
???? Casey’s is sustaining strong growth in inside sales and fuel while efficiently managing costs.
???? Fikes acquisition boosts store count but impacts margins and costs in the short term.
???? Expansion strategy remains aggressive, with EBITDA growth forecasted at 11% for FY2025.
Date: March 11, 2025
Location: Ankeny, IA
Key Highlights (Q3 2025 vs. Q3 2024)
✔ Revenue: $3.90 billion, up from $3.33 billion (+17.2%)
✔ Net Income: $87.1 million, flat compared to $86.9 million
✔ Diluted EPS: $2.33, unchanged from prior year
✔ EBITDA: $242.4 million, up 11.4% from $217.6 million
Operational Performance
Inside Store Sales & Margins
✔ Inside same-store sales: +3.7% YoY
✔ Total inside sales: $1.4 billion, up 15.3%
✔ Inside margin: 40.9% (-0.4% YoY)
✔ Prepared Food & Beverages: +4.7% same-store sales growth
✔ Grocery & General Merchandise: +3.3% same-store sales growth
Fuel Sales & Margins
✔ Total fuel gallons sold: 829.8 million, up 20.4%
✔ Same-store fuel gallons: +1.8% YoY
✔ Fuel margin: 36.4 cents per gallon, down from 37.3 cents
Operating Expenses & Expansion
✔ Operating expenses: $670.2 million, up 18%
✔ Store growth: +235 new stores (21 newly built, 228 acquired, 14 closed)
✔ Same-store labor hours: Reduced for the 11th consecutive quarter
Financial Position & Capital Allocation
✔ Liquidity: $1.3 billion (includes $395M cash, $900M credit)
✔ CapEx Forecast: $500 million in fiscal 2025
✔ Debt: $2.44 billion, up due to Fikes acquisition
✔ Dividend: $0.50/share, payable May 15, 2025
✔ Share repurchase: No buybacks this quarter; $295 million authorization remains
Fiscal 2025 Updated Guidance
✔ EBITDA: Expected +11% growth
✔ Same-store inside sales: +3% to +5%
✔ Same-store fuel gallons: -1% to +1%
✔ Operating expenses: +11% to +13% (including $25-$30M in Fikes deal costs)
✔ Tax rate: 23%-25%
CEO Comments – Darren Rebelez
???? "Casey's delivered an excellent third quarter with strong inside and fuel sales. Our prepared food and dispensed beverages category, especially hot sandwiches and bakery, saw strong demand. We also achieved 1.8% same-store gallon growth in fuel, while adding significant store count through acquisitions, notably Fikes."
Investor Call Information
Date: March 12, 2025
Time: 7:30 AM CDT
???? Webcast: Casey's Investor Relations
Bottom Line
???? Casey’s is sustaining strong growth in inside sales and fuel while efficiently managing costs.
???? Fikes acquisition boosts store count but impacts margins and costs in the short term.
???? Expansion strategy remains aggressive, with EBITDA growth forecasted at 11% for FY2025.