Press release
Casey's Announces Fourth Quarter Results
ANKENY, Iowa--(BUSINESS WIRE)-- Casey’s General Stores, Inc., ("Casey's" or the "Company") (Nasdaq symbol CASY) one of the leading convenience store chains
About this update from Caseys General Stores, Inc.
[{"type":"text","content":" ANKENY, Iowa--(BUSINESS WIRE)--\nCasey’s General Stores, Inc., (\"Casey's\" or the \"Company\") (Nasdaq symbol CASY) one of the leading convenience store chains in the United States, today announced financial results for the three months and year ended April 30, 2023.\n\n\nFourth Quarter 2023 Key Highlights\n\n\n\nDiluted EPS of $1.49, compared to $1.60 from the prior year.\n\n\n\nInside same-store sales up 6.5% with an inside margin of 39.6%. Total inside gross profit increased 8.9% to $445.5 million compared to the prior year.\n\n\n\nFuel same-store gallons were flat with a fuel margin of 34.6 cents per gallon. Total fuel gross profit decreased 2.2% to $219.7 million compared to the prior year.\n\n\n\nSame-store labor hours decreased by 3.3% compared to the prior year.\n\n\n\nIn June, Casey's increased the quarterly dividend 13% to $0.43 per share, marking the 24th consecutive annual increase.\n\n\n\nFiscal Year 2023 Key Highlights\n\n\n\nDiluted EPS of $11.91, up 30.9% over the prior year.\n\n\n\nNet income increased 31.5% to $446.7 million, and EBITDA1 increased 18.9% to $952.5 million.\n\n\n\nThe Company added 81 new stores in the fiscal year, ending the year at 2,521 stores.\n\n\n\nCasey's Rewards members grew to 6.4 million at year-end.\n\n\n\nPrivate label penetration in the grocery and general merchandise category was over 9% on both units and gross profit for the year.\n\n\n\n“Casey's closed out its three-year strategic plan with another record fiscal year for its shareholders, highlighted by 19% EBITDA growth and 31% diluted EPS growth,\" said Darren Rebelez, President and CEO. “Inside same-store sales performed well, up 6.5%, or 13.6% on a two-year stack basis, led by alcoholic and non-alcoholic beverages, as well as strong performance in pizza and bakery. We continued to strike the right balance between fuel gallon volume and gross profit margin throughout the year to drive fuel gross profit up 15.7% from the prior year. The team did a tremendous job managing cost as same-store operating expense excluding credit-card fees were only up 2.8% versus the prior year. Finally, we are busy operating 81 new stores, finishing the year with 2,521 stores. As we look to discuss our next strategic plan on June 27th, I am proud of the hard work and dedication of the Casey's team, and we are well positioned to continue delivering...