- Casey’s General Stores Inc (NASDAQ:CASY) reported first-quarter FY23 sales growth of 40% year-on-year to $4.45 billion, missing the consensus of $4.50 billion.
- Inside same-store sales increased 6.3%. Inside gross profit rose 8.8% Y/Y to $504.3 million.
- Fuel gallons decreased 2.3% on a same-store basis. Total fuel gross profit increased 31.4% to $308.2 million.
- Operating expenses rose 13.4% Y/Y to $543.3 million.
- Casey’s held $312.4 million in cash and equivalents as of July 31, 2022. Net cash provided by operating activities totaled $276.2 million.
- Adjusted EBITDA of $293.2 million increased 20.6% Y/Y.
- EPS of $4.09 beat the analyst consensus of $3.37.
- The Board of Directors in August voted to pay a quarterly dividend of $0.38 per share, payable November 15, 2022, to shareholders of record on November 1, 2022.
- Outlook: Casey’s has maintained the previously disclosed fiscal 2023 outlook.
- It expects same-store fuel and inside sales to increase 4% – 6%, with an inside margin of about 40%.
- Price Action: CASY shares closed higher by 2.89% at $221.40 on Wednesday.
- Photo Via Wikimedia Commons
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