Summary
Casey's General Stores, Inc. (CASY) operates a network of convenience stores primarily in Midwestern states, with a strong presence in smaller towns. For the fiscal year ended April 30, 2015, the company reported total revenue of $7.77 billion, a slight decrease of 0.9% compared to the previous year. This was primarily driven by a significant drop in average fuel prices, which offset increases in fuel gallons sold and robust growth in inside sales from merchandise and prepared foods. Net income saw a substantial increase of 42.4% to $180.6 million, with diluted EPS rising to $4.62 from $3.26 in the prior year. This improvement was largely attributed to higher fuel gross profit margins and increased inside sales. The company continues its growth strategy through new store constructions and acquisitions. In fiscal 2015, Casey's added 36 stores through acquisition and constructed 45 new stores. A key strategic focus is the expansion of high-margin prepared food offerings, such as pizza and donuts, which contribute significantly to gross profits. The company is also investing in infrastructure, including plans for a second distribution center to enhance efficiency and support expansion. Despite competitive pressures and volatile fuel costs, Casey's demonstrates resilience through its diversified revenue streams and strategic focus on in-store offerings.
Financial Highlights
49 data points| Revenue | $7.77B |
| Cost of Revenue | $6.33B |
| Gross Profit | $1.44B |
| Operating Expenses | $960.42M |
| Interest Expense | $41.23M |
| Net Income | $180.63M |
| EPS (Basic) | $4.66 |
| EPS (Diluted) | $4.62 |
| Shares Outstanding (Basic) | 38.74M |
| Shares Outstanding (Diluted) | 39.10M |
Key Highlights
- 1Net income increased significantly by 42.4% to $180.6 million in fiscal 2015, with diluted EPS rising to $4.62 from $3.26 in fiscal 2014.
- 2Total revenue slightly decreased by 0.9% to $7.77 billion, impacted by lower average fuel prices, though fuel gallons sold and inside sales grew.
- 3Inside sales (grocery & merchandise and prepared food & fountain) showed strong growth, increasing by 14.9% to $2.58 billion.
- 4Fuel gross profit margin improved significantly to 6.8% from 4.8% in the prior year, benefiting from favorable wholesale cost movements.
- 5The company continued its physical expansion, acquiring 36 stores and constructing 45 new stores during fiscal 2015.
- 6Prepared food and fountain sales and gross profit continue to be a vital, high-margin component of the business, with gross profit margins averaging approximately 61% over the past three fiscal years.
- 7The company announced plans to build a second distribution center in Terre Haute, Indiana, to support future expansion and improve distribution efficiency.