CASY 8-K Current Reports

Earnings & ResultsLeadership ChangesCorporate Changes+2

CASEYS GENERAL STORES INC 8-K Report, Regulation FD Disclosure (Jun 24, 2026)

Casey's General Stores (CASY) furnished a presentation from its 2026 Investor Day, held June 24, 2026, under Item 7.01 (Regulation FD). The filing contains no new quarterly results. Its substance is a review of the FY24-FY26 three-year plan and a new FY27-FY29 growth plan. The company says it exceeded every FY24-FY26 target, including 16% EBITDA CAGR against an 8-10% goal, 504 stores added against roughly 350, and about $1.68B of free cash flow against about $1.25B. Management frames Casey's as a 'convenience QSR' with about 3,000 company-operated stores in 19 states, roughly 11 million rewards members, and vertical integration in distribution and fuel. For FY27-FY29, management guides to EBITDA growth of 8-10% CAGR, at least 400 new stores through builds and acquisitions, about $2B of cumulative free cash flow, mid-single-digit inside sales growth, roughly flat fuel gallons, and inside store margin expansion. Fuel margin is targeted in the mid-40s cents per gallon, though the deck labels that figure as included 'for modeling purposes only.' Capital allocation priorities are unit growth first, a balance sheet at about 2.0x debt/EBITDA (currently about 1.5x), a dividend grown in line with medium-term EBITDA growth (27 consecutive years of increases), and a new $1B repurchase authorization following about $200M of buybacks in FY26. Investors should treat the plan as forward-looking management targets, not reported results. The presentation relies on non-GAAP measures (EBITDA, free cash flow, ROIC) and includes reconciliations in the appendix. The 8-K itself states the information is 'furnished' and not 'filed' under the Exchange Act. The key questions for investors are whether the fuel margin assumption and the pace of acquisitions can be sustained, and how much of the prior plan's outperformance was driven by fuel margins.

Jun 24, 2026 8-K

CASEYS GENERAL STORES INC 8-K Report, Financial Results (Jun 9, 2026)

Casey's General Stores (CASY) reported a strong close to fiscal 2026 for the quarter and year ended April 30, 2026. Fourth-quarter diluted EPS rose 66.2% to $4.37, net income rose 65.5% to $162.7 million, and EBITDA rose 33.2% to $350.3 million. For the full year, diluted EPS was $19.16 (up 30.9%), net income was $714.4 million (up 30.7%), and EBITDA was about $1.48 billion (up 23.6%). Growth was driven by inside same-store sales (up 5.5% in Q4, 4.2% for the year), a 120 basis point improvement in inside margin in the quarter, and a sharp rise in fuel margin to 46.9 cents per gallon in Q4 from 37.6 cents a year earlier. Fuel gross profit rose 29.1% in the quarter. Operating expenses grew 10.1%, partly from accrued variable compensation tied to the strong results. Capital return and shareholder items were prominent. The Board raised the quarterly dividend 14% to $0.65 per share, the 27th consecutive annual increase, and expanded the share repurchase authorization from $400 million to $1 billion with no expiration date. The company ended the year with about $1.4 billion in available liquidity. Casey's was also added to the S&P 500 during the year. The 8-K also disclosed compensation actions: FY2026 annual incentive payouts at 161% of target, new FY2027 equity and cash incentive structures, and amended bylaws that let holders of at least 25% of voting power call a special shareholder meeting. For fiscal 2027, management guided to inside same-store sales growth of 2% to 5% with inside margin above 42%, EBITDA growth of 8% to 10%, total operating expense growth of 5% to 7%, and at least 120 new stores. Investors should weigh the strong earnings momentum against guidance that implies a deceleration from fiscal 2026's EBITDA growth, along with rising operating costs and capital spending of roughly $800 million.

Jun 9, 2026 8-K

CASEYS GENERAL STORES INC 8-K Report, Executive Changes (Jun 8, 2026)

Casey's General Stores (Nasdaq: CASY) filed an 8-K reporting a board change: on June 4, 2026, the Board expanded from eleven to twelve directors and appointed Stanley J. Sutula III to fill the new seat, effective immediately. Sutula will also join the Audit Committee and stand for election at the 2026 annual shareholders' meeting, scheduled for September 2, 2026. He brings more than 35 years of experience in corporate finance, planning, tax, and risk management, and currently serves as CFO of Colgate-Palmolive, where he oversees global finance, IT, and M&A. Prior roles include CFO of Pitney Bowes and 28 years at IBM, including a stint as Vice President and Controller. The filing also discloses that director Cara Heiden will not stand for re-election and will retire at the conclusion of the Annual Meeting, at which point the board will return to eleven members. The company states that her decision is not due to any disagreement with management on operations, policies, or practices. The 8-K describes the change as a governance refresh that adds financial and audit-related expertise, with Heiden departing after nearly a decade of service, including on the Audit Committee. For investors, this is a routine governance event with no disclosed financial impact, compensation changes beyond standard prorated non-employee director fees, or related-party transactions. The most relevant signal is the strengthening of the Audit Committee's financial expertise, which may be viewed favorably given Casey's growth and acquisition activity. The filing does not provide operating results, guidance, or changes to the company's strategy.

Jun 8, 2026 8-K

CASEYS GENERAL STORES INC 8-K Report, Financial Results (Mar 9, 2026)

Casey's General Stores (Nasdaq: CASY) reported strong third-quarter fiscal 2026 results for the three months ended January 31, 2026. Diluted EPS rose 49.8% to $3.49 and net income increased 49.3% to $130.1 million, while EBITDA grew 27.5% to $308.9 million. The gains were driven by higher inside and fuel gross profit. Inside same-store sales rose 4.0%, inside margin expanded roughly 130 basis points to 42.2%, and fuel margin improved to 41.0 cents per gallon from 36.4 cents a year earlier. Total fuel gross profit increased 15.3%, and inside gross profit rose 8.9%. Management raised its fiscal 2026 outlook. EBITDA is now expected to grow 18% to 20%, inside same-store sales growth is now 3.5% to 4.5%, and the inside margin target is approximately 41.5% to 42.5%. Total operating expenses are now expected to rise about 10%, a notable cost increase that partly offsets top-line strength. Liquidity remains solid at roughly $1.4 billion, and the company repurchased about $76 million of stock during the quarter. The Board also approved a quarterly dividend of $0.57 per share, payable May 15, 2026. For investors, the quarter shows healthy margin expansion in both inside and fuel categories, with the comparison helped by $13 million of prior-year Fikes deal and integration costs. Operating expense growth of 4.1% in the quarter, driven by labor rates, snow removal, and incentive accruals, is the main watch item. Management continues to expect at least 80 store openings in fiscal 2026. Earnings call is scheduled for March 10, 2026.

Mar 9, 2026 8-K

Earnings & ResultsShareholder MattersExhibits & Filings

CASEYS GENERAL STORES INC 8-K Report, Financial Results (Dec 9, 2025)

Casey's General Stores (CASY) reported strong second-quarter fiscal 2026 results for the three months ended October 31, 2025. Net income rose 14.0% to $206.3 million and diluted EPS increased to $5.53 from $4.85, while EBITDA grew 17.5% to $410.1 million. Growth was driven by inside gross profit up 13.5% to $703.4 million and fuel gross profit up 20.9% to $377.4 million, with inside same-store sales up 3.3% and same-store fuel gallons up 0.8%. Results were partly offset by operating expenses rising 16.7%, largely from 236 additional stores and a 4.5% same-store increase excluding credit card fees, driven by labor rates. Management raised certain fiscal 2026 guidance, now expecting EBITDA growth of 15% to 17%, inside same-store sales growth of 3% to 4%, an inside margin of 41% to 42%, and a 24% to 25% tax rate. Other metrics were left unchanged, including total operating expenses growth of roughly 8% to 10%, at least 80 store openings, and approximately $600 million in capital expenditures. The company also declared a quarterly dividend of $0.57 per share and ended the quarter with about $1.4 billion of available liquidity, including $492 million of cash. The filing is a press release furnished under Item 2.02 and contains no new legal or governance events. Investors should note that interest expense rose sharply to $24.7 million from $12.6 million, reflecting higher debt following the 2024 issuance and acquisition activity, and that the release references a pending Fikes transaction without detailing its terms in this filing.

Dec 9, 2025 8-K

CASEYS GENERAL STORES INC 8-K Report, Financial Results (Sep 8, 2025)

Casey's General Stores (CASY) reported first-quarter fiscal 2026 results for the three months ended July 31, 2025, with strong growth across inside sales, fuel gross profit, and profitability. Net income rose 19.5% to $215.4 million, and diluted EPS increased 19.5% to $5.77 from $4.83. EBITDA grew 19.8% to $414.3 million. Inside same-store sales rose 4.3%, with inside margin at 41.9%, and total fuel gross profit increased 18.8% to $373.6 million on a 41.0-cent-per-gallon fuel margin. Growth was supported by roughly 221 additional stores year over year, although operating expenses rose 14.6%, and same-store operating expenses excluding credit card fees increased 3.0%. Management reaffirmed its fiscal 2026 outlook, calling for EBITDA growth of 10% to 12%, inside same-store sales growth of 2% to 5%, inside margin of about 41%, same-store fuel gallons of -1% to +1%, and total operating expense growth of 8% to 10%. The company expects to open at least 80 stores in fiscal 2026. Liquidity was approximately $1.4 billion at quarter-end, including $458 million in cash, and the company repurchased about $31 million of stock during the quarter with roughly $264 million remaining under its authorization. The Board approved a quarterly dividend of $0.57 per share, payable November 14, 2025. The 8-K also reports results of the September 3, 2025 annual shareholder meeting. All eleven director nominees were elected, and shareholders ratified KPMG LLP as auditor, approved the say-on-pay advisory vote, and approved the 2025 Stock Incentive Plan. A shareholder proposal on Scope 3 greenhouse gas reduction targets failed decisively, with about 2.05 million votes for and 28.5 million against. Interest expense rose meaningfully, with net interest of $26.9 million versus $14.1 million a year earlier, which is a key item for investors to monitor alongside the higher store base.

Sep 8, 2025 8-K

Earnings & ResultsLeadership ChangesExhibits & Filings

CASEYS GENERAL STORES INC 8-K Report, Financial Results (Jun 9, 2025)

Casey's General Stores reported record fiscal 2025 results for the year ended April 30, 2025, with net income of $546.5 million (up 8.9%), diluted EPS of $14.64 (up 9.0%), and EBITDA of $1.2 billion (up 13.3%). Fourth-quarter results were stronger still: diluted EPS rose 12.4% to $2.63, net income rose 13.0% to $98.3 million, and EBITDA rose 20.1% to $263.0 million. Growth was driven by higher inside and fuel gross profit, partly offset by operating expenses that increased as the company ran 246 more stores than a year earlier. Fuel gross profit rose 10.7% for the year, and total inside same-store sales grew 2.6%, outpacing the industry according to management. The company built or acquired 270 stores, its most in history, including the Fikes Wholesale acquisition of 198 CEFCO stores. The balance sheet expanded materially. Total assets rose to $8.2 billion from $6.3 billion, largely due to goodwill and property growth from acquisitions, and long-term debt increased to $2.4 billion from $1.6 billion after a $1.1 billion debt raise. Management reports a debt-to-EBITDA ratio of 1.9x under its credit facility covenants and about $1.2 billion of available liquidity. Net interest expense for the fourth quarter nearly doubled to $27.9 million, a trend investors should monitor. The company also raised its quarterly dividend 14% to $0.57 per share, marking the 26th consecutive annual increase, and it repurchased no shares in the fourth quarter, leaving about $295 million under its buyback authorization. For fiscal 2026, management guides to EBITDA growth of 10% to 12%, inside same-store sales growth of 2% to 5% with an inside margin of about 41%, and at least 80 new or acquired stores, bringing the three-year strategic plan total to about 500 stores. Operating expenses are expected to rise 8% to 10%, and capital expenditures are projected at about $600 million. The Form 8-K also disclosed executive compensation actions. Annual incentive payouts for fiscal 2025 were set at 109% of target, and the Board approved fiscal 2026 long-term equity awards and an incentive plan weighted 60% to EBITDA and 40% to inside same-store sales growth. The compensation structure ties a portion of long-term awards to relative total shareholder return, adding a market-based modifier.

Jun 9, 2025 8-K

Earnings & ResultsLeadership ChangesExhibits & Filings

CASEYS GENERAL STORES INC 8-K Report, Financial Results (Mar 11, 2025)

Casey's General Stores reported third-quarter fiscal 2025 results (quarter ended January 31, 2025) that were mixed for shareholders. Diluted EPS was flat at $2.33 and net income was flat at $87.1 million, while EBITDA rose 11.4% to $242.4 million. Growth came mainly from the Fikes acquisition, which added 254 stores over the prior year. Total inside sales rose 15.3% and total fuel gross profit rose 17.4%, but higher interest expense on acquisition debt and higher depreciation offset the operating gains. Operating expenses rose about 18%, including roughly $13 million of one-time Fikes deal and integration costs. Organic trends were solid. Inside same-store sales grew 3.7% (8.0% on a two-year stack), led by prepared food and dispensed beverages, and same-store labor hours fell 2% for the eleventh consecutive quarter. Inside margin declined 40 basis points to 40.9%, mainly from Fikes stores and a coffee promotion. Same-store fuel gallons rose 1.8%, but fuel margin fell to 36.4 cents per gallon from 37.3 cents a year earlier. For fiscal 2025, management raised its EBITDA growth outlook to approximately 11% and expects capital expenditures of about $500 million. It left most other guidance unchanged, including same-store inside sales growth of 3% to 5%, same-store fuel gallons of negative 1% to positive 1%, and about 270 new stores. Liquidity stood at approximately $1.3 billion at quarter-end, and the Board declared a $0.50 quarterly dividend.

Mar 11, 2025 8-K

CASEYS GENERAL STORES INC 8-K Report, Financial Results (Dec 9, 2024)

Casey's General Stores (CASY) reported strong second-quarter fiscal 2025 results for the three months ended October 31, 2024. Diluted EPS rose 14% to $4.85 and net income reached $181 million, while EBITDA climbed 14% to $349 million. The quality of the quarter was driven by inside (in-store) profitability: inside same-store sales grew 4.0%, inside gross profit rose 12.0% to $619.7 million, and inside margin expanded 110 basis points to 42.2%. Fuel was more mixed, with same-store gallons down 0.6% and fuel margin of 40.2 cents per gallon versus 42.3 cents a year earlier, though total fuel gross profit still edged up 1.1%. The most material item for investors is the closing of the Fikes Wholesale acquisition on November 1, 2024, which added 198 CEFCO convenience stores after quarter end. The deal was funded with new debt: long-term debt rose to roughly $2.5 billion from $1.6 billion at April 30, 2024, and restricted cash of about $1.16 billion was held at quarter end for the transaction. Management expects $15-20 million of additional one-time deal and integration costs, primarily in the third quarter, with Fikes modestly dilutive to EBITDA in Q3 and modestly accretive in Q4. Full-year EBITDA growth is now guided to at least 10%, operating expenses are expected to rise 11-13%, and interest expense is about $35 million higher than the original outlook. Liquidity was approximately $1.25 billion, and the company did not repurchase shares in the quarter. Separately, the board approved a quarterly dividend of $0.50 per share, payable February 17, 2025. The company also disclosed an amendment to CEO Darren Rebelez's employment agreement, extending its term to June 24, 2028, setting a $1.35 million base salary effective fiscal 2026, and establishing a target long-term incentive award of $9.275 million starting in fiscal 2026. Investors will want to watch how the Fikes integration performs against the stated cost and earnings expectations, and how leverage evolves from the higher debt load.

Dec 9, 2024 8-K

Earnings & ResultsMaterial AgreementsFinancial Events+2

CASEYS GENERAL STORES INC 8-K Report, Material Agreement (Nov 5, 2024)

Casey's General Stores (CASY) filed an 8-K on November 5, 2024 disclosing three main items: the closing of its largest acquisition in company history, the acquisition of Fikes Wholesale (owner of CEFCO Convenience Stores), which closed November 1, 2024, and a preliminary second-quarter fuel margin update. The acquisition adds 198 stores (148 in Texas and 50 across Alabama, Florida, and Mississippi), bringing the total store count to approximately 2,900. Management characterized the deal as in line with the strategic plan presented at the June 2023 Investor Day, and highlighted Texas as a strategically important market. To finance the deal, the company entered into an amendment to its existing credit agreement with Wells Fargo on October 30, 2024, under which it incurred an $850 million incremental term loan maturing October 30, 2029. The amendment also carved certain lease obligations out of the 'priority debt' covenant definition. Otherwise, the company states the incremental loan mirrors the existing term loan and that no other material covenant or default terms changed, so the debt increase is the principal balance-sheet consequence investors should track. On operations, Casey's expects fuel margin for the quarter ended October 31, 2024 to be approximately 40 cents per gallon, a figure investors will compare against prior-year and analyst expectations. The filing does not provide full quarterly financials, integration costs, or purchase price details, so those will need to come from the upcoming earnings release and the company's 10-Q.

Nov 5, 2024 8-K

Material AgreementsFinancial EventsExhibits & Filings

CASEYS GENERAL STORES INC 8-K Report, Material Agreement (Oct 9, 2024)

Casey's General Stores, Inc. (CASY) has announced a significant financing event through a new Note Purchase Agreement (NPA) entered into on October 4, 2024. The company is issuing $250 million in senior notes, split between $150 million of 5.23% Senior Notes, Series I, due 2031, and $100 million of 5.43% Senior Notes, Series J, due 2034. The proceeds are earmarked for general corporate purposes, notably to finance the previously announced acquisition of Fikes Wholesale, Inc. and Group Petroleum Services, Inc. This strategic move indicates Casey's commitment to expanding its operations and market presence.

Oct 9, 2024 8-K

Earnings & ResultsShareholder MattersExhibits & Filings

CASEYS GENERAL STORES INC 8-K Report, Financial Results (Sep 4, 2024)

Casey's General Stores (CASY) reported first-quarter fiscal 2025 results for the three months ended July 31, 2024, showing solid profit growth driven by inside and fuel margin strength. Diluted EPS rose 7% to $4.83 from $4.52, net income increased 6% to $180.2 million, and EBITDA grew 9% to $345.8 million. Inside same-store sales rose 2.3% (7.9% on a two-year stack) with inside margin expanding 110 basis points to 41.7%, and total inside gross profit increased 10.4%. Fuel gross profit rose 5.9% to $314.5 million on a fuel margin of 40.7 cents per gallon, with same-store gallons up 0.7%. Same-store operating expenses excluding credit card fees rose only 0.7%, aided by a 2% reduction in same-store labor hours. The company's balance sheet and liquidity remained healthy, with approximately $1.2 billion of available liquidity, including about $305 million in cash. Casey's did not repurchase shares during the quarter and has roughly $295 million left under its buyback authorization. The Board approved a quarterly dividend of $0.50 per share, payable November 15, 2024. Management is holding its fiscal 2025 outlook (EBITDA growth of at least 8%, inside same-store sales growth of 3% to 5%) until the Fikes Wholesale acquisition, which adds 198 CEFCO stores, closes in calendar 2024. Store growth guidance was raised to approximately 270 units. The filing also reports the August 28, 2024 annual shareholder meeting, where all eleven directors were elected with strong majorities, KPMG LLP was ratified as auditor, and executive compensation received broad support. Both shareholder proposals, on an independent board chair and greenhouse gas emissions reporting, failed by wide margins.

Sep 4, 2024 8-K

Material AgreementsRegulation FDExhibits & Filings

CASEYS GENERAL STORES INC 8-K Report, Material Agreement (Jul 26, 2024)

Casey's General Stores (CASY) has entered into an Equity Purchase Agreement dated July 25, 2024 to acquire 100% of the equity of Fikes Wholesale, Inc. and Group Petroleum Services, Inc. (owner of the CEFCO Convenience Stores brand) for an all-cash purchase price of $1.145 billion, subject to customary post-closing adjustments. The transaction includes 198 retail stores and a dealer network, and would lift Casey's footprint to nearly 2,900 stores. The company states the purchase price includes tax benefits valued at roughly $165 million, implying a net after-tax price of about $980 million, which management says represents approximately 11x CEFCO's pro forma adjusted 2023 EBITDA. Strategically, the deal accelerates Casey's unit growth pillar and significantly expands its presence in Texas, adding 148 Texas stores, along with 50 stores in Alabama, Florida, and Mississippi. The acquisition also includes a fuel terminal and a commissary supporting the Texas stores. Management expects approximately $45 million in annual run-rate synergies once kitchen installations are completed in the acquired stores, and states the deal will be accretive to EBITDA in the current fiscal year. Financing is planned through balance sheet cash and bank debt. Closing is expected in the fourth quarter of calendar 2024, subject to HSR antitrust clearance and other customary conditions. Investors should weigh the accretion and synergy case against the substantial cash outlay, the integration risk of a large multi-state acquisition, and the execution required to convert the acquired stores to Casey's operating model and pizza offering. The filing itself contains no pro forma financial statements, so detailed balance sheet and leverage impacts are not yet quantified in this document.

Jul 26, 2024 8-K

Earnings & ResultsLeadership ChangesExhibits & Filings

CASEYS GENERAL STORES INC 8-K Report, Executive Changes (Jun 11, 2024)

Casey's General Stores (Nasdaq: CASY) filed an 8-K on June 11, 2024 disclosing a governance change rather than a financial or operational event. Effective July 1, 2024, the Board increased its size from ten to eleven directors and appointed Maria Castañón Moats to fill the new seat. Ms. Castañón Moats is retiring as a partner from PricewaterhouseCoopers on June 30, 2024, and will stand for election at the 2024 annual shareholders' meeting. She was also appointed to the Audit Committee effective July 1, 2024. For investors, the filing is primarily significant for board composition and audit oversight. Ms. Castañón Moats brings more than 30 years of public accounting experience, including leadership of PwC's U.S. and Mexico assurance practice and its Governance Insights Center. Her background is well suited to an Audit Committee role, and the appointment strengthens the Board's financial and accounting expertise. The company states she was not selected under any arrangement and that no related-party transactions requiring disclosure under Item 404(a) exist. The filing contains no financial results, guidance, or material transactions. Compensation for her board service will mirror that of other non-employee directors, prorated through the Annual Meeting. The practical impact for shareholders is limited to governance, with the main points to monitor being her election at the annual meeting and her subsequent work on the Audit Committee.

Jun 11, 2024 8-K

CASEYS GENERAL STORES INC 8-K Report, Financial Results (Jun 11, 2024)

Casey's General Stores reported a strong fourth quarter and full fiscal 2024 (year ended April 30, 2024). Q4 diluted EPS rose 57% to $2.34, net income increased 55% to $87 million, and EBITDA grew 32% to $219 million. For the full year, diluted EPS was $13.43 (up 13%), net income was $502 million (up 12%), and EBITDA surpassed $1 billion for the first time at $1.06 billion (up 11%). Inside same-store sales grew 4.4% for the year and 5.6% in Q4, with inside margin expanding to 41.0% for the year and 41.2% in Q4. Fuel gross profit rose 3.9% for the year, though the fuel margin per gallon fell to 39.5 cents from 40.2 cents, and total revenue declined about 1.5% to $14.86 billion, reflecting lower fuel prices. The company ended the year with about $1.1 billion in liquidity, a 16% dividend increase to $0.50 per quarter (its 25th consecutive annual increase), and $105 million of share repurchases for the year with roughly $295 million remaining under its authorization. Management guided fiscal 2025 EBITDA growth of at least 8%, inside same-store sales growth of 3% to 5%, operating expense growth of 6% to 8%, and at least 100 new stores through acquisitions and new construction. Operating expenses rose 11% in Q4, partly from operating 137 more stores, so investors will watch whether cost growth stays within guidance while store expansion continues. Separately, the Compensation Committee set fiscal 2024 annual incentive payouts at 157% of target and approved fiscal 2025 long-term equity awards and an incentive plan weighted 60% to EBITDA and 40% to inside same-store sales growth. Long-term PSUs now include a relative total shareholder return modifier of plus or minus 25%, which ties executive pay more closely to shareholder returns.

Jun 11, 2024 8-K

CASEYS GENERAL STORES INC 8-K Report, Financial Results (Mar 11, 2024)

Casey's General Stores reported third-quarter fiscal 2024 results (quarter ended January 31, 2024) that showed solid operational momentum in the store but lower year-over-year earnings. Diluted EPS fell 13% to $2.33 and net income fell 13% to $86.9 million, while EBITDA declined 2% to $217.6 million. The decline reflects a strong fuel margin comparison in the prior year, lapping a one-time $15 million operating expense benefit from a legal matter, and higher operating expenses from 167 additional stores. Management's narrative centers on inside gross profit, which rose 11.3% to $501.5 million on inside same-store sales growth of 4.1% and a 70 basis point margin expansion to 41.3%. Fuel was the weak spot. Fuel margin compressed to 37.3 cents per gallon from 40.7 cents a year earlier, and fuel gross profit fell 2.0% to $257.2 million. Same-store gallons were down 0.4%. Same-store operating expenses excluding credit card fees rose 2.5%, helped by a 1% reduction in same-store labor hours. Liquidity remained strong at about $1.1 billion, and the company repurchased about $30 million of stock in the quarter. Casey's reaffirmed its full-year fiscal 2024 outlook, including same-store inside sales growth of 3.5% to 5%, EBITDA growth in line with its 8% to 10% long-term goal, at least 150 new stores, and at least $100 million in share repurchases. The quarterly dividend was set at $0.43 per share, payable May 15, 2024. For investors, the key question is whether inside strength and cost discipline can offset fuel margin pressure and the cost of rapid store growth.

Mar 11, 2024 8-K

CASEYS GENERAL STORES INC 8-K Report, Financial Results (Dec 11, 2023)

Casey's General Stores (CASY) reported second-quarter fiscal 2024 results (quarter ended October 31, 2023) that were strong across the board. Diluted EPS rose 16% to $4.24, net income grew 15% to $159 million, and EBITDA increased 13% to $306 million. Growth was driven by inside gross profit (up 9.7% to $553.3 million, with inside margin expanding 130 basis points to 41.1%) and fuel gross profit (up 8.6% to $308.8 million, with fuel margin at 42.3 cents per gallon). Inside same-store sales rose 2.9% and fuel same-store gallons were flat, so the earnings gains came primarily from margin expansion rather than volume growth. Management raised its fiscal 2024 store growth target to at least 150 new stores, up from the original 110, and entered Texas with a 22-store acquisition closed in November. This expansion is raising operating expenses, which are now expected to grow 6% to 8%, though same-store operating expenses excluding credit card fees are only expected to rise about 3%. Fiscal 2024 EBITDA growth is guided in line with the long-term 8% to 10% target, and same-store inside sales growth is guided at 3.5% to 5%. The balance sheet remains solid, with about $1.3 billion in available liquidity ($410 million in cash and $900 million in undrawn credit lines). The company repurchased about $30 million of shares in the quarter, expects to buy back at least $100 million for the full year, and declared a quarterly dividend of $0.43 per share payable February 15, 2024. Investors should watch whether the margin tailwinds from ingredient cost softening and private label growth can persist, given that same-store traffic and gallons were roughly flat.

Dec 11, 2023 8-K

CASEYS GENERAL STORES INC 8-K Report, Financial Results (Sep 11, 2023)

Casey's General Stores (CASY) reported first quarter fiscal 2024 results (quarter ended July 31, 2023) that showed solid profit growth despite a tougher fuel environment. Diluted EPS rose 11% to $4.52 from $4.09, and net income increased to $169.2 million from $152.9 million. Adjusted EBITDA grew about 7.6% to $315.5 million. Results were driven by inside (non-fuel) business strength: inside same-store sales rose 5.4%, inside gross profit climbed 10.3% to $556.4 million, and inside margin expanded 80 basis points to 40.6%. Management attributed the gain largely to prepared food and beverage ingredient cost relief and rising private label penetration. Fuel was the main drag. Total fuel gross profit fell 3.6% to $297.0 million as fuel margin compressed to 41.6 cents per gallon from 44.7 cents, lapping record-high fuel margins from the prior year. Same-store gallons grew 0.4%, and operating expenses excluding credit card fees rose 3.4% on a same-store basis, partly offset by a 3% reduction in same-store labor hours. Total revenue fell about 13% to $3.87 billion, reflecting lower wholesale and retail fuel prices. The company also raised its fiscal 2024 store growth outlook to add at least 150 stores, reflecting 125 stores under agreement to acquire, including 63 from EG Group. Liquidity remained strong at about $1.3 billion, the board declared a $0.43 quarterly dividend, and $370 million remained under the share repurchase authorization. Other fiscal 2024 guidance, including inside same-store sales growth of 3% to 5%, was reaffirmed.

Sep 11, 2023 8-K

Shareholder Matters

CASEYS GENERAL STORES INC 8-K Report, Shareholder Vote Results (Sep 8, 2023)

Casey's General Stores, Inc. (CASY) filed an 8-K on September 8, 2023, detailing the results of its 2023 annual shareholders' meeting held on September 6, 2023. The primary focus of the filing is the outcome of various shareholder votes, which provide insight into investor sentiment and governance practices. Notably, all ten director nominees were elected by a significant majority, indicating strong shareholder confidence in the current board's leadership. Additionally, the appointment of KPMG LLP as the independent registered public accounting firm for the upcoming fiscal year was overwhelmingly ratified. Investors should also note the outcomes of the advisory votes. The advisory vote on executive compensation received substantial support, and shareholders favored an annual advisory vote on executive compensation going forward. However, two shareholder proposals, one concerning responsible sourcing disclosures and another on greenhouse gas emissions reporting, did not receive majority support, suggesting that a significant portion of shareholders either voted against these proposals or abstained.

Sep 8, 2023 8-K

CASEYS GENERAL STORES INC 8-K Report, Regulation FD Disclosure (Jun 27, 2023)

Casey's General Stores (CASY) furnished an 8-K under Item 7.01 (Regulation FD) on June 27, 2023 to disclose its 2023 Investor Day presentation (Exhibit 99.1). The filing itself contains no new financial results or guidance; its investor significance lies in the management's updated FY24–FY26 strategic plan and long-term targets. Management reaffirmed a goal of top-quintile EBITDA growth of 8–10% CAGR through FY2026, supported by 350+ additional stores via new builds and acquisitions, free cash flow of roughly $1.25B through FY2026, and margin expansion in the inside store and in fuel (mid-30s cents per gallon). The presentation highlights a track record of delivery: FY13–FY23 EBITDA grew at an 11.9% CAGR and diluted EPS at a 16.0% CAGR, with FY23 EBITDA of $952M and diluted EPS of $11.91. Management reported that it exceeded its 2020 Investor Day commitments, including 354 new units against a 345 goal and a 14% EBITDA CAGR against an 8–10% target. The balance sheet is characterized as strong, with debt/EBITDA of 1.8x against a long-term target of about 2.0x, $1.25B of available liquidity, and a weighted average interest rate of 3.8%. ROIC was 11.8% in FY23 versus a weighted average cost of capital of about 7.5%. Key strategic pillars are accelerating the food business (pizza revamp, limited-time offers, dispensed beverages), growing the unit count, enhancing operational efficiency, and building the Rewards loyalty program (6.5M+ members). Investors should note that the presentation is non-GAAP heavy (EBITDA, free cash flow, ROIC) and that the forward targets are forward-looking statements subject to fuel margins, acquisition integration, and macroeconomic risks.

Jun 27, 2023 8-K

Earnings & ResultsLeadership ChangesMaterial Agreements+2

CASEYS GENERAL STORES INC 8-K Report, Executive Changes (Jun 6, 2023)

Casey's General Stores (Nasdaq: CASY) announced via an 8-K filed June 6, 2023 that its Board unanimously elected President and CEO Darren M. Rebelez as Board Chair, effective June 2, 2023. He succeeds H. Lynn Horak, who is retiring from the Board along with director Diane Bridgewater at the annual shareholders' meeting on September 6, 2023. Neither retirement was attributed to any disagreement with the Company on operations, policies, or practices. In a parallel move, the Board elected independent director Judy A. Schmeling (a director since 2018) as Lead Independent Director, also effective June 2, 2023. The Company said the leadership changes followed a comprehensive Board evaluation process and that the Board enhanced the Lead Independent Director's duties, which are now set out in the Corporate Governance Guidelines. For investors, this is a governance-focused filing rather than a financial one; no financial results, guidance, or compensation terms are disclosed. The combination of CEO and Board Chair roles in one person is a notable governance consideration, partly offset by the empowered Lead Independent Director role and the orderly, non-contentious retirements of two long-serving directors.

Jun 6, 2023 8-K

CASEYS GENERAL STORES INC 8-K Report, Material Agreement (Jun 6, 2023)

Casey's General Stores reported a strong fiscal 2023 (year ended April 30, 2023) but a softer fourth quarter. Full-year net income rose 31.5% to $446.7 million and diluted EPS rose 30.9% to $11.91. EBITDA increased 18.9% to $952.5 million, and inside same-store sales grew 6.5%. Fourth-quarter diluted EPS fell to $1.49 from $1.60 because a higher tax rate and higher depreciation offset a slight increase in adjusted EBITDA. Fourth-quarter fuel gross profit declined 2.2%, as fuel margin compressed to 34.6 cents per gallon from 36.2 cents, and same-store gallons were flat. The company's balance sheet and capital return remain solid. Casey's refinanced its credit facility in April 2023 into a $1.1 billion unsecured facility and ended the year with about $1.3 billion in available liquidity. On June 1, 2023, it also increased its uncommitted UMB revolving line from $25 million to $50 million at a variable rate of 5.85%, payable on demand. The Board raised the quarterly dividend 13% to $0.43, the 24th consecutive annual increase. Management guided fiscal 2024 to 3% to 5% inside same-store sales growth, approximately 110 new stores, and $500 to $550 million in capital expenditures. For investors, the key items are the strong full-year earnings growth, the margin pressure in fuel, and the fiscal 2024 outlook. The 8-K also disclosed executive compensation actions, including a 178% annual incentive payout for fiscal 2023 and new long-term equity and salary arrangements for fiscal 2024. These are routine governance disclosures that the Compensation Committee approved, and the CEO's base salary is set at $1.2 million for fiscal 2024.

Jun 6, 2023 8-K

Material AgreementsFinancial EventsExhibits & Filings

CASEYS GENERAL STORES INC 8-K Report, Material Agreement (Apr 26, 2023)

Casey's General Stores, Inc. (CASY) announced the execution of a new, comprehensive credit agreement effective April 21, 2023. This agreement consolidates and expands the company's financing capabilities, replacing its previous credit facility. Key to this update is the establishment of a $250 million unsecured term loan facility and an $850 million unsecured revolving credit facility, totaling $1.1 billion in committed financing. The new facilities mature on April 21, 2028, providing a medium-term financing runway. The primary purpose of the new credit agreement is to refinance existing debt and provide flexibility for working capital and general corporate purposes. The company has the option to increase the credit facilities under certain conditions, signaling potential future growth or capital needs. While initially unsecured, the agreement includes provisions that could require the company to pledge collateral under specific circumstances, such as exceeding certain priority debt thresholds.

Apr 26, 2023 8-K

Earnings & ResultsCorporate ChangesExhibits & Filings

CASEYS GENERAL STORES INC 8-K Report, Financial Results (Mar 7, 2023)

Casey's General Stores (CASY) reported fiscal Q3 2023 results (quarter ended January 31, 2023) that were strong on profitability. Net income rose 56% to $100.1 million and diluted EPS reached $2.67, up from $1.71 a year earlier. Results were helped by an approximately $15 million one-time operating expense benefit from resolving a legal matter, which contributed $0.31 to diluted EPS. Excluding that benefit, the quarter still showed solid underlying momentum: inside same-store sales rose 5.6%, inside margin expanded 120 basis points to 40.6%, and fuel margin improved to 40.7 cents per gallon from 38.3 cents. Top-line and cash metrics were also healthy. Total revenue grew about 9% to $3.33 billion, and inside gross profit increased 11.6%. Liquidity was approximately $876 million at quarter-end, including $413 million in cash, and the company still had $400 million remaining under its buyback authorization, though it made no repurchases in the quarter. The Board declared a $0.38 quarterly dividend payable May 15, 2023. Management modified its fiscal 2023 guidance, now expecting same-store inside sales growth of 6% to 7% and same-store fuel gallons of down 1% to up 1%. Other guidance, including approximately 80 new stores and inside margin near 40%, was maintained. The filing also disclosed amended Seventh Amended and Restated Bylaws adopted March 2, 2023, which tighten shareholder proxy solicitation and director nomination requirements, a governance change investors may view as defensive.

Mar 7, 2023 8-K

CASEYS GENERAL STORES INC 8-K Report, Executive Changes (Feb 22, 2023)

Casey's General Stores, Inc. (CASY) announced the resignation of its Chief Information Officer (CIO), Adrian Butler, effective March 3, 2023. Mr. Butler is leaving to pursue an opportunity with another company. While the departure of a key executive can sometimes raise concerns, the filing indicates that Mr. Butler's decision is voluntary and driven by an external opportunity. Investors should monitor the company's communication regarding the transition plan for the CIO role and the search for a successor. The effectiveness of this transition and the caliber of the new CIO appointment will be important factors in ensuring continued execution of the company's IT strategy and overall business objectives. The immediate impact on operations is not detailed in this filing, but the company will likely provide further updates as necessary.

Feb 22, 2023 8-K

CASEYS GENERAL STORES INC 8-K Report, Regulation FD Disclosure (Jan 31, 2023)

Casey's General Stores (Nasdaq: CASY) issued a business update on January 31, 2023, ahead of a "non-deal" roadshow, a term signaling that the company was meeting investors without discussing an acquisition. The release says third-quarter fiscal 2023 performance to date is consistent with management's full-year expectations. Same-store inside sales are in the lower half of the annual 5-7% growth range, same-store fuel gallons are near the low end of the flat-to-2% annual range, and quarter-to-date fuel margins (cents per gallon) are similar to reported second-quarter levels. The most notable item for investors is a one-time payment of approximately $15 million from the resolution of certain legal matters. The company will record it as a reduction to operating expense in the third quarter. Excluding this item, total operating expense growth is expected to be near the low end of the annual 9-10% range. Because the payment was not included in prior operating expense guidance, reported third-quarter and full-year expense figures will look more favorable than the underlying run-rate. The filing is largely a reaffirmation of guidance rather than a change to it. Management did not raise or lower its outlook, and the update is furnished under Regulation FD rather than filed. Investors should treat the $15 million as non-recurring and focus on the underlying trends in inside sales, fuel gallons, and fuel margins when assessing operating performance.

Jan 31, 2023 8-K

CASEYS GENERAL STORES INC 8-K Report, Financial Results (Dec 6, 2022)

Casey's General Stores reported strong second-quarter fiscal 2023 results for the three months ended October 31, 2022. Diluted EPS rose 42% to $3.67 from $2.59, net income increased 42% to $137.6 million, and Adjusted EBITDA grew 27% to $276.3 million. Growth came from both inside sales and fuel. Inside same-store sales rose 7.9%, and inside gross profit increased 8.9%. Fuel gross profit climbed 22.7% to $284.4 million, supported by a fuel margin of 40.5 cents per gallon versus 34.7 cents a year earlier. Margin trends were mixed. Inside margin fell 90 basis points to 39.8%, pressured by higher prepared food and dispensed beverage ingredient costs, particularly cheese, which price increases only partly offset. Operating expenses rose 7.7%, driven mainly by 83 additional stores, higher credit card fees from elevated fuel prices, and a non-cash impairment charge. Same-store operating expenses excluding credit card fees rose a modest 1.3%, helped by a 3% reduction in same-store labor hours. Management raised its fiscal 2023 same-store inside sales outlook to approximately 5% to 7% and expects total operating expense growth near the low end of the 9% to 10% range. Liquidity stood at about $884 million, and the Board declared a quarterly dividend of $0.38 per share. No shares were repurchased in the quarter, though $400 million remains under the existing authorization. The company continues to expect to add about 80 stores in fiscal 2023 and to exceed its three-year commitment of 345 units.

Dec 6, 2022 8-K

CASEYS GENERAL STORES INC 8-K Report, Financial Results (Sep 7, 2022)

Casey's General Stores (CASY) reported first-quarter fiscal 2023 results (three months ended July 31, 2022) that were strong on earnings, driven by a favorable fuel margin environment and solid inside (in-store) sales. Diluted EPS rose 28% to $4.09 from $3.19, net income increased 28.3% to $152.9 million, and Adjusted EBITDA grew 20.6% to $293.2 million. Total revenue jumped roughly 40% to $4.45 billion, largely reflecting higher fuel prices, while inside same-store sales rose 6.3% and the fuel margin widened to 44.7 cents per gallon from 35.1 cents a year earlier. Total fuel gross profit increased 31.4%, offsetting a decline in same-store fuel gallons of 2.3%. The quality of the quarter has some nuance. Inside margin contracted 70 basis points to 39.8%, with prepared food and dispensed beverage margin falling sharply to 55.6% from 61.0% due to higher cheese costs. Operating expenses rose 13.4%, including the effect of 74 additional stores, higher credit card fees tied to record fuel prices, and higher incentive compensation. Management described the fuel margin tailwind as especially strong in the second half of the quarter as wholesale costs fell from record highs, which suggests that part of the benefit may not be repeatable. Balance sheet and capital allocation remained sound. Cash rose to $312 million, total liquidity was about $781 million, and long-term debt declined modestly. The company did not repurchase shares during the quarter, leaving $400 million under its authorization, and it declared a $0.38 quarterly dividend. Management reaffirmed its fiscal 2023 outlook, calling for 4% to 6% same-store inside sales growth, roughly 40% inside margin, and about 80 new stores.

Sep 7, 2022 8-K/A

Leadership ChangesShareholder MattersRegulation FD+1

CASEYS GENERAL STORES INC 8-K/A Report, Executive Changes (Sep 1, 2022)

This 8-K filing from Casey's General Stores, Inc. (CASY) pertains to a change in board committee membership. Specifically, it announces the appointment of Sri Donthi to the Audit Committee of the Board of Directors, effective August 30, 2022. Mr. Donthi was initially appointed to the Board on June 27, 2022, and at that time, was not assigned to any committees. This update provides information on the composition of the Company's key governance committees.

Sep 1, 2022 8-K

CASEYS GENERAL STORES INC 8-K Report, Executive Changes (Sep 1, 2022)

Casey's General Stores (Nasdaq: CASY) filed this 8-K to report board changes and the results of its August 30, 2022 annual shareholder meeting. The Board increased its size from eleven to twelve directors and appointed Michael (Mike) Spanos to fill the new seat. Spanos was CEO of Six Flags Entertainment from 2019 to 2021 and spent a long career at PepsiCo, most recently as CEO of its Asia, Middle East, and North Africa business. He will serve on the Compensation Committee and must stand for election at the 2023 annual meeting. The filing discloses no financial results, guidance, or material transactions, so its direct financial impact is limited. Shareholders at the same meeting re-elected all eleven incumbent directors, ratified KPMG LLP as auditor for fiscal year ending April 30, 2023, and approved the advisory say-on-pay vote on named executive officer compensation. Support was strong across the board. Each director received well over 96% of votes cast for or against, and say-on-pay drew roughly 97% support among votes cast. The auditor ratification passed with about 96% support. Shareholder approval of governance and compensation items at these levels generally signals limited investor dissent. For investors, the main takeaway is governance continuity with a modest strengthening of the board's food and beverage and supplier-relationship expertise. Management framed the appointment as supporting the company's evolution of its food and beverage offerings, including private brands, which is a strategic priority for a company that competes heavily on prepared food and pizza. The filing contains no financial impact, so investors should look to upcoming earnings releases and management commentary for any operational effects.

Sep 1, 2022 8-K

Leadership ChangesExhibits & Filings

CASEYS GENERAL STORES INC 8-K Report, Executive Changes (Jul 29, 2022)

This 8-K filing by Casey's General Stores Inc. (CASY) announces an amendment and restatement of the employment agreement for its President and CEO, Darren M. Rebelez, extending his tenure through June 24, 2025. The updated agreement solidifies Mr. Rebelez's role and outlines his compensation structure, including a base salary of $1,150,000, a target annual bonus of 150% of his base salary, and an annual long-term incentive award with a target grant date value of $6,125,000. Key changes in the new agreement primarily relate to severance provisions. In the event of termination by the Company without "Cause" or resignation by Mr. Rebelez for "Good Reason," he will receive severance benefits consistent with the prior agreement, plus a pro-rata portion of his target annual bonus for the year of termination and accelerated vesting of a pro-rata portion of his time-based restricted stock units. These adjustments provide clarity and continued alignment for the leadership team's commitment to the company.

Jul 29, 2022 8-K

CASEYS GENERAL STORES INC 8-K Report, Executive Changes (Jun 27, 2022)

Casey's General Stores (Nasdaq: CASY) filed an 8-K on June 27, 2022 to disclose a board expansion and a new director appointment. On June 23, 2022, the Board increased its size from ten to eleven directors and appointed Sri Donthi to fill the newly created seat. Donthi is currently Executive Vice President and Chief Technology Officer at Advance Auto Parts (NYSE: AAP), a role he has held since 2018. He will also stand for election at the 2022 annual shareholders' meeting, and the Board has not yet assigned him to any committees. The filing is governance-focused and carries no reported financial results, guidance, or material transactions. Donthi will receive the same prorated compensation as other non-employee directors, per the most recent proxy disclosure from the September 1, 2021 annual meeting. The company states that he was not selected under any arrangement with the Company or other parties, and that no related-party transactions requiring disclosure under Item 404(a) of Regulation S-K exist. For investors, the significance lies in the Board's emphasis on technology and digital transformation. Casey's management stated that Donthi's background of more than 25 years leading IT organizations at retail, consumer products, and technology companies, including roughly 14 years at PepsiCo and 10 years at Motorola, will support the company's ongoing IT modernization and digital initiatives. The appointment does not change the company's financial outlook on its own, but it signals the Board's priority on technology capabilities.

Jun 27, 2022 8-K

Earnings & ResultsLeadership ChangesExhibits & Filings

CASEYS GENERAL STORES INC 8-K Report, Regulation FD Disclosure (Jun 15, 2022)

Casey's General Stores (CASY) furnished this 8-K to provide a transcript of its June 14, 2022 sell-side analyst meeting in Ankeny, Iowa, after a technical failure disrupted the live webcast. The filing is a Regulation FD disclosure, not a financial results release, so it contains no new reported figures, guidance revisions, or financial statements. Its investor value lies in management's commentary on the company's strategic plan and recent performance. Management reaffirmed its strategic plan goals: an 8-10% EBITDA CAGR over three years, 345 new units targeted, and a steady-state leverage ratio of roughly 2x. The CEO said the company still expects to deliver that growth algorithm despite expected normalization in fuel margins, citing inside-store opportunities such as private label penetration (about 5% of grocery and general merchandise) and prepared foods, along with acquisitions made easier by distressed small operators under inflationary pressure. The CFO acknowledged that operating expense growth (about 20% in FY22 versus 11% EBITDA growth) had been a shortfall and that cost actions are underway, and that the company does not expect to provide specific cents-per-gallon fuel margin guidance. Key risks flagged include fuel margin volatility, rising credit card fees, labor and inflationary cost pressures, and the integration of recent acquisitions. Management also noted early work on an EV strategy, with a more detailed plan expected at a future investor day. Investors should treat the forward-looking statements as management's current views, subject to the risks listed in the filing's cautionary language.

Jun 15, 2022 8-K

CASEYS GENERAL STORES INC 8-K Report, Financial Results (Jun 7, 2022)

Casey's General Stores reported record fiscal 2022 results for the year ended April 30, 2022, with full-year diluted EPS of $9.10, up from $8.38, and an all-time high. Fourth-quarter diluted EPS rose 43% to $1.60, driven by higher inside and fuel profitability, partially offset by higher operating expenses, higher interest and depreciation, and a lower tax rate. Full-year Adjusted EBITDA reached $800.0 million, up about 10% from $728.9 million. Inside same-store sales grew 6.6% for the year, and fuel same-store gallons rose 4.4%. Total store count grew by 228 to 2,452, including 207 acquired locations, the largest unit growth year in company history. The company ended the year with about $634 million in available liquidity and prepaid roughly $168 million of variable-rate debt. It also increased its quarterly dividend 9% to $0.38 per share, marking the 23rd consecutive annual increase. Fiscal 2023 guidance calls for same-store inside sales growth of 4% to 6%, same-store fuel gallons flat to up 2%, operating expense growth of 9% to 10%, and about 80 new stores. Capital expenditures are expected at $450 to $500 million, including about $135 million in one-time remodel costs for recently acquired stores. Investors should weigh the strong earnings momentum against rising operating costs, the remodel spending, and the macroeconomic and fuel-cost pressures management flagged. Separately, the Compensation Committee disclosed fiscal 2022 annual incentive payouts at 188% of target for named executive officers and set new fiscal 2023 long-term equity, annual incentive, and base salary terms. The incentive structure ties long-term awards to ROIC, EBITDA, and relative total shareholder return.

Jun 7, 2022 8-K

Earnings & ResultsOther EventsExhibits & Filings

CASEYS GENERAL STORES INC 8-K Report, Regulation FD Disclosure (Apr 21, 2022)

Casey's General Stores (CASY) issued a business update on April 21, 2022, ahead of a non-deal roadshow hosted by Stephens, Inc. The company said its business continues to perform well and that it remains on track for record fourth-quarter diluted earnings per share in fiscal 2022. This is a Regulation FD disclosure furnished under Item 7.01, not a formal earnings release, and it provides preliminary quarter-to-date operating metrics rather than full financial results. Fuel volumes were slightly higher than the prior year, roughly flat to up low-single digits on a same-store basis. Fuel margins were in the high-30s cents per gallon. Inside same-store sales volumes were up mid-single digits, but inside margins were pressured by higher cheese costs, which averaged $2.24 per pound in the fourth quarter versus $1.93 a year earlier. Operating expenses were running above the company's prior 11-13% guidance, up roughly mid-teens, largely due to higher credit card fees tied to retail fuel prices that were up about 39% year over year. For investors, the key takeaways are that top-line momentum and fuel economics remain healthy, while the margin headwinds from food input costs and fuel-linked expense inflation are the main watch items. Interest expense was modestly affected by non-cash charges from a partial prepayment of variable rate debt, which management attributed to strong free cash flow generation. The company's commentary is forward-looking and subject to the risks described in its SEC filings, including the impact of COVID-19 and the conflict in Ukraine.

Apr 21, 2022 8-K

CASEYS GENERAL STORES INC 8-K Report, Financial Results (Mar 8, 2022)

Casey's General Stores reported record third-quarter fiscal 2022 results for the quarter ended January 31, 2022. Net income rose 66% to $64.0 million, and diluted EPS rose 64% to $1.71 from $1.04. Adjusted EBITDA increased 37% to $174.3 million. Revenue grew 52% to $3.05 billion, largely from acquisitions and higher fuel prices. Same-store inside sales grew 7.6%, same-store fuel gallons grew 5.7%, and fuel margin widened to 38.3 cents per gallon from 32.9 cents. Total fuel gross profit increased 39.6%, which was the main driver of earnings growth. Inside margin slipped 20 basis points to 39.4% on ingredient and pizza topping cost increases. Operating expenses rose 18.5%, reflecting 202 added stores, higher wages, and higher credit card fees on higher fuel prices. The company closed the acquisition of 40 stores from Pilot Corporation, its third significant acquisition this fiscal year, and ended the quarter with 2,431 stores. Year-to-date, acquisitions consumed about $863 million in cash, and goodwill rose to $601 million from $161 million. Cash fell to $187 million from $337 million at fiscal year-end, and long-term debt and finance leases rose to about $1.86 billion including current maturities. Year-to-date operating cash flow declined to $537 million from $663 million. Available liquidity was approximately $662 million. The Board expanded its share repurchase authorization to up to $400 million from $300 million, with no expiration date. The company made no repurchases in the quarter. It also declared a quarterly dividend of $0.35 per share, payable May 16, 2022. Management reiterated its fiscal 2022 outlook, calling for mid-single-digit same-store fuel and inside sales growth, high-teens operating expense growth, and about 225 new units. The outlook also includes roughly $400 million in capital expenditures and $310 million in depreciation and amortization.

Mar 8, 2022 8-K

Material AgreementsFinancial EventsRegulation FD+1

CASEYS GENERAL STORES INC 8-K Report, Regulation FD Disclosure (Jan 24, 2022)

Casey's General Stores (Nasdaq: CASY) furnished an 8-K under Item 7.01 (Regulation FD) on January 24, 2022, attaching a press release that provides a brief business update ahead of its participation in the Jefferies Virtual Winter Restaurant, Foodservice, Gaming, Lodging & Leisure Summit. The filing is informational rather than a formal earnings or financial-results release. No audited financial statements, balance sheet data, or full-year guidance were included, and the information is furnished rather than filed for purposes of Section 18 of the Exchange Act. The core content is a reaffirmation and refinement of third-quarter fiscal 2022 expectations. Management reaffirmed mid-single-digit same-store sales growth for both fuel gallons and inside sales. Operating expenses are still expected to rise 18% to 20% year over year. Fuel margin guidance was updated to the mid-30-cents-per-gallon range. Management also expects third-quarter net income to exceed the prior-year level. For investors, the update is incremental. The reaffirmed sales outlook signals steady underlying demand, and the fuel margin commentary is the most actionable data point because fuel margin is a major driver of profitability for convenience store operators. The sharp expected rise in operating expenses is a key watch item, since it partly offsets margin strength. Overall, the release reinforces a positive near-term earnings trajectory without offering new quantitative financial detail.

Jan 24, 2022 8-K

CASEYS GENERAL STORES INC 8-K Report, Material Agreement (Dec 16, 2021)

This 8-K filing from Casey's General Stores, Inc. (CASY) on December 16, 2021, details two key events for investors. Firstly, the company entered into an amendment to its existing credit agreement to allow for up to $150 million in new term loans, while also decreasing the minimum index rate for LIBOR-based loans. Importantly, this amendment does not materially alter existing covenants, events of default, or other significant terms, suggesting a focus on financial flexibility rather than a change in risk profile related to debt. Secondly, Casey's announced the successful closing of its previously disclosed acquisition of 40 convenience stores from Pilot Corporation. This strategic acquisition, focused on the Knoxville, Tennessee region, represents a significant expansion of the company's footprint and operational capacity. Investors should view this as a move aimed at increasing market share and revenue potential in a key geographic area.

Dec 16, 2021 8-K

Material AgreementsRegulation FDExhibits & Filings

CASEYS GENERAL STORES INC 8-K Report, Financial Results (Dec 7, 2021)

Casey's General Stores (CASY) reported fiscal Q2 2022 results for the quarter ended October 31, 2021, showing top-line strength but flat-to-lower profitability. Total revenue surged to $3.26 billion from $2.22 billion, and inside same-store sales rose 6.0% with inside gross profit up 12.3% to $463.4 million. Fuel gallons grew 2.5% on a same-store basis and fuel gross profit increased 13.6% to $231.9 million, though fuel margin compressed to 34.7 cents per gallon from 35.3 cents. Net income fell 13.5% to $96.8 million and diluted EPS declined to $2.59 from $3.00, while Adjusted EBITDA slipped about 3% to $217.0 million. Operating expenses rose 22%, driven by 161 additional stores, higher wages, and credit card fees tied to elevated fuel prices. The quarter's profit pressure reflects the cost of an aggressive expansion strategy. Casey's store count reached 2,380 at quarter-end after 144 acquisitions, including the Buchanan Energy and Circle K deals, and the company now expects to add roughly 225 units in fiscal 2022, up from 200. Management also raised its expense outlook, now calling for total operating expense growth in the high-teens percentage range, and increased guidance for interest expense, D&A, and the acquisition-driven cost base, while reducing planned capex to about $400 million from $500 million as new store construction slows. The pending 40-store Pilot acquisition is described as EBITDA accretive in fiscal 2022. Balance sheet and capital allocation remain sound, with approximately $787 million in available liquidity, including $312 million in cash and $475 million in undrawn credit lines. Total debt and finance lease obligations rose meaningfully to roughly $1.7 billion as acquisitions were funded with new borrowings. The company has $300 million remaining under its share repurchase program, which expires in April 2022, and no repurchases were made in the quarter. The Board declared a quarterly dividend of $0.35 per share, payable February 15, 2022. Investors will be focused on whether same-store sales momentum and acquisition integration can offset rising operating costs and thinner per-gallon fuel margins.

Dec 7, 2021 8-K

CASEYS GENERAL STORES INC 8-K Report, Material Agreement (Sep 28, 2021)

Casey's General Stores (CASY) disclosed on September 28, 2021 that its indirect subsidiary, CGS Stores, LLC, entered into an Asset Purchase Agreement on September 27, 2021 to acquire substantially all of the assets of 40 convenience stores, including retail fuel operations, from Pilot Corporation. The stores are concentrated in the Knoxville, Tennessee area and surrounding regions, and the aggregate cash purchase price is $220 million, subject to customary post-closing adjustments. The transaction is a meaningful but measured bolt-on acquisition for Casey's, which operates over 2,300 stores. The company stated it will fund the deal with a combination of cash on hand and bank financing, which implies some incremental leverage. The filing does not disclose the stores' revenue, EBITDA, or per-store economics, so investors will need to await further guidance to assess accretion and return on invested capital. Management characterized the stores as high-quality assets with strong performance and a good fit for Casey's fresh food program, particularly its handmade pizza. Closing is subject to customary conditions, including expiration or termination of the Hart-Scott-Rodino waiting period, accuracy of representations and warranties, performance of covenants, and the absence of a material adverse effect. Because the deal requires HSR clearance and the filing does not state an expected closing timeline, timing and regulatory risk remain open items. Certain schedules and exhibits were omitted from the agreement under Item 601(a)(5) of Regulation S-K.

Sep 28, 2021 8-K

Earnings & ResultsShareholder MattersExhibits & Filings

CASEYS GENERAL STORES INC 8-K Report, Financial Results (Sep 7, 2021)

Casey's General Stores reported first-quarter fiscal 2022 results (three months ended July 31, 2021) that showed strong top-line and gross profit growth, but flat-to-lower bottom-line earnings. Total revenue rose 51% to $3.18 billion, driven largely by higher fuel prices and the 166 net additional stores versus the prior year. Inside same-store sales increased 8.0%, with inside gross profit up 16.7% to $463.5 million and inside margin expanding to 40.5% from 39.6%. Fuel same-store gallons rose 9.0%, and total fuel gross profit grew 11.6% to $234.5 million, though the fuel margin compressed to 35.1 cents per gallon from 38.2 cents. Profitability lagged the sales growth. Operating expenses rose 24% to $478.9 million on restored store hours, higher credit card fees, acquisition-related one-time costs, and the added stores. Net income declined slightly to $119.2 million from $120.6 million, and diluted EPS fell to $3.19 from $3.24. Adjusted EBITDA increased about 2% to $243.2 million. Management reaffirmed its fiscal 2022 outlook (with a modestly revised tax rate of 24% to 26%) and raised the quarterly dividend by $0.01 to $0.35 per share, its 22nd consecutive annual increase. The balance sheet expanded materially due to the Buchanan Energy and Oklahoma Circle K acquisitions, which added 137 stores in the quarter. Goodwill rose to $440 million from $161 million, and long-term debt increased to $1.68 billion after a $300 million borrowing. Cash fell to $199 million, and total liquidity was approximately $674 million at quarter end. No shares were repurchased in the quarter, leaving $300 million under the authorization, which expires in April 2022. Investors will be watching whether integration synergies and margin discipline can restore earnings growth in line with the top-line expansion.

Sep 7, 2021 8-K

CASEYS GENERAL STORES INC 8-K Report, Executive Changes (Jul 27, 2021)

Casey's General Stores, Inc. (CASY) filed an 8-K on July 27, 2021, primarily announcing a significant executive transition. Julie Jackowski, the Chief Legal Officer and Secretary, is retiring effective October 31, 2021, after a long tenure of over 27 years. This departure marks the end of an era for a key figure in the company's legal and corporate governance structure. In connection with her retirement, Ms. Jackowski has agreed to provide transition services for up to twelve months post-retirement. As compensation for these services, she will receive a one-time fee of $100,000 and continued health coverage for 18 months via COBRA premium payments, contingent upon signing a general release. Investors should monitor the company's ability to seamlessly transition legal leadership and ensure continuity in corporate governance matters.

Jul 27, 2021 8-K

Earnings & ResultsLeadership ChangesExhibits & Filings

CASEYS GENERAL STORES INC 8-K Report, Executive Changes (Jul 8, 2021)

Casey's General Stores (CASY) filed an 8-K on July 8, 2021 reporting that its Board of Directors expanded from nine to ten members and appointed Gregory A. Trojan to fill the newly created seat, effective July 6, 2021. Trojan is the current CEO and a director of BJ's Restaurants, Inc. (Nasdaq: BJRI), and he will stand for election at the 2021 annual shareholders' meeting. The Board has not yet assigned him to any committees, and as a non-employee director he will receive the standard non-employee director compensation, prorated through the Annual Meeting. The filing states that Trojan was not chosen under any arrangement with the Company or other persons, and that there are no related-party transactions requiring disclosure under Item 404(a) of Regulation S-K. This is a routine governance event with no direct financial impact disclosed in the filing. The accompanying press release frames the appointment as adding restaurant, foodservice, and consumer-retail expertise, which aligns with Casey's strategy of growing its prepared-food and pizza businesses alongside fuel. For investors, the appointment signals board refreshment and a deliberate focus on foodservice and consumer experience, areas that are increasingly important to Casey's earnings mix. The filing contains no new financial results, guidance, or material transactions, so the announcement is best viewed as a governance and strategic-positioning update rather than a catalyst for near-term performance.

Jul 8, 2021 8-K

CASEYS GENERAL STORES INC 8-K Report, Financial Results (Jun 8, 2021)

Casey's General Stores reported fiscal 2021 (year ended April 30, 2021) results that set an all-time high for diluted EPS at $8.38, up from $7.10, on net income of $312.9 million versus $263.8 million. Full-year Adjusted EBITDA rose about 12% to $728.9 million from $650.1 million, driven by a strong fuel margin of 34.9 cents per gallon versus 26.8 cents a year earlier, and inside same-store sales growth of 4.0%. Fourth-quarter results were weaker: diluted EPS fell to $1.12 from $1.67, and Adjusted EBITDA declined about 12% to $140.6 million. The decline reflected a fuel margin compression to 33.0 cents per gallon from 40.8 cents, which management attributed to an unusually high prior-year comparison driven by COVID-19 supply and demand shocks, along with higher operating expenses of $426.3 million, including $8 million of incremental incentive compensation. The balance sheet and liquidity position strengthened. Cash and equivalents reached $336.5 million, and total liquidity was about $810 million at year-end. Operating cash flow was $804.1 million, up from $504.3 million. Casey's closed the Buchanan Energy acquisition on May 13, 2021, funded with a $300 million term loan draw and cash, and expects to close the Circle K acquisition in June 2021. Buchanan is expected to add roughly $45 million of annual EBITDA in fiscal 2022. Long-term debt rose to about $1.36 billion from $715 million, a material increase that investors should weigh against the acquisition pipeline. The board declared a quarterly dividend of $0.34 per share, and $300 million remains under the share repurchase authorization, which expires in April 2022, with no repurchases made in the fourth quarter. For fiscal 2022, management expects same-store fuel and inside sales to grow by mid-single-digit percentages, while total operating expenses are projected to rise by mid-teens percentages, largely due to adding about 200 units and restoring store operating hours. Guidance includes depreciation and amortization of about $300 million, interest expense of about $50 million, a tax rate of about 26%, and capital expenditures of about $500 million. The outlook is subject to uncertainty about the timing of pandemic recovery. Separately, the Compensation Committee authorized fiscal 2021 annual incentive payouts at 200% of target for NEOs and set fiscal 2022 incentive and equity structures, including PSUs tied to ROIC and EBITDA with a relative TSR modifier.

Jun 8, 2021 8-K

CASEYS GENERAL STORES INC 8-K Report, Regulation FD Disclosure (May 14, 2021)

Casey's General Stores (Nasdaq: CASY) announced on May 14, 2021 that it has closed its acquisition of Buchanan Energy, owner of Bucky's Convenience Stores. The filing furnishes a press release under Item 7.01 (Regulation FD) and does not include financial terms, purchase price, or updated guidance beyond what was previously disclosed. The company describes the deal as the most significant transaction in its 52-year history and part of its three-year strategic plan, announced in January 2020, to add 345 stores. Strategically, the acquisition deepens Casey's presence in the Midwest, particularly Nebraska and Illinois, and lifts its total owned and operated store count to over 2,300. Management highlighted the opportunity to roll out its hand-made pizza program to Bucky's high-volume, well-located stores, which is a key differentiator in Casey's prepared-food strategy. Investors should note a regulatory condition: as part of a consent order with the Federal Trade Commission, Casey's will divest six stores. The company states this will not materially alter the expected financial impact previously disclosed. Integration execution, the strategic plan, and COVID-19 effects remain the principal risk factors flagged in the release.

May 14, 2021 8-K

Material AgreementsExhibits & Filings

CASEYS GENERAL STORES INC 8-K Report, Executive Changes (May 7, 2021)

Casey's General Stores, Inc. (CASY) filed an 8-K on May 7, 2021, reporting a significant management change. The company eliminated the position of Chief Marketing Officer, leading to the departure of Chris Jones on May 3, 2021. This change is part of a broader management reorganization, the details of which are not fully elaborated in this specific filing but suggest a strategic shift within the company's leadership structure.

May 7, 2021 8-K

CASEYS GENERAL STORES INC 8-K Report, Material Agreement (Apr 29, 2021)

Casey's General Stores, Inc. (NASDAQ: CASY) filed a Form 8-K on April 29, 2021 disclosing that on April 23, 2021 it entered into an Amendment to Equity Purchase Agreement. The amendment modifies the November 8, 2020 Equity Purchase Agreement under which Casey's is acquiring entities associated with Buck's, a convenience store and fuel operator, from seller parties including Steven Buchanan. The filing describes the amendment as largely administrative and housekeeping in nature, reflecting ordinary-course changes in the target's operations, updated information on fuel supply termination penalties the seller is subject to, and restated definitions and schedules. For investors, the filing is a procedural disclosure rather than a change in deal economics. The 8-K does not disclose a revised purchase price, new financing terms, or a changed closing timeline, and the company did not provide the amendment's full text in the body of the filing, pointing investors to Exhibit 2.1 for details. Because the filing describes the changes only at a high level, the precise financial impact on Casey's cannot be determined from this document alone. The filing also notes that certain schedules and exhibits were omitted under Item 601(a)(5) of Regulation S-K as not material to an investment decision, with the company agreeing to furnish them to the SEC on request. Investors seeking to assess the acquisition's effect on Casey's earnings, leverage, or store footprint should review the full agreement and subsequent company disclosures on deal closing and integration.

Apr 29, 2021 8-K

Material AgreementsFinancial EventsRegulation FD+1

CASEYS GENERAL STORES INC 8-K Report, Material Agreement (Mar 22, 2021)

Casey's General Stores, Inc. (CASY) announced a significant strategic acquisition through its wholly-owned subsidiary, Casey's Marketing Company, entering into an Asset Purchase Agreement (APA) with Circle K Stores Inc. on March 17, 2021. This agreement pertains to the acquisition of 49 convenience stores, including fuel operations, located in Oklahoma for a cash purchase price of $39 million, subject to customary adjustments. The deal, which includes 46 leased and 3 owned properties, is expected to close by July 31, 2021, signaling the company's intent to expand its retail footprint. In conjunction with this acquisition, Casey's also amended its credit agreement to extend the borrowing deadline for its term loan facility by two months, to May 23, 2021. This amendment likely aims to ensure the necessary financing is in place for the upcoming acquisition and to provide flexibility in its capital structure. Investors should view this as a move towards growth and market expansion, although the financing and integration of these new locations will be key factors to monitor.

Mar 22, 2021 8-K