Caseys General Stores, Inc. · NASDAQ:CASY
Caseys General Stores — Investor Day (July 2017)
25 slides from Caseys General Stores's investor day presentation, Jul 19, 2017
Slide 1: Investor Day July 20, 2017
INVESTOR DAY JULY 20, 2017
Slide 2: Safe Harbor Statements
Safe Harbor Statements This presentation is dated as of July 19, 2017 and speaks as of that date. Forward Looking Statements This presentation contains statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-
Slide 3: Agenda
Agenda Presentation Terry Handley, President and CEO Bill Walljasper, Senior Vice President and CFO Q&A Terry Handley, President and CEO Bill Walljasper, Senior Vice President and CFO Brian Johnson, Senior Vice President, Store Development Jay Soupene, Senior Vice President, Operatio
Slide 4: Casey's Mission, Purpose and Vision
Casey’s Mission To provide quality products at competitive prices with courteous service in clean stores at convenient locations. To provide a work environment where employees are treated with respect, dignity and honesty and where high performance is expected and rewarded. To provide shareown
Slide 5: Long-Term Strategy
Long-Term Strategy Total Shareholder Return Store Growth Re-Invest in Existing Stores In-Store Growth Opportunities Share Repurchase Dividend
Slide 6: Stores by Population
Stores by Population 57% 14% 11% 18% Under 5,000 5,000 to 10,000 10,000 to 20,000 Over 20,000
Slide 7: Store Growth
Store Growth 1,749 1,808 1,878 1,931 1,978 2013 2014 2015 2016 2017 Fiscal Year Fiscal Year New Builds Acquired Stores 2013 31 26 2014 44 28 2015 45 36 2016 51 5 2017 48 22 2018 Guidance: 80 to 120 Stores Total Corporate Stores New Stores & Acquisitions Type Sq Ft Land Building Equip. Total Invest.
Slide 8: Store Growth by State
Core States Newer States(1) State FYE 2017 FYE 2012 5-Year Growth Iowa 518 477 41 Illinois 440 405 35 Missouri 326 309 17 Kansas 158 139 19 Minnesota 148 111 37 Nebraska 134 127 7 Indiana 91 75 16 S. Dakota 42 39 3 Wisconsin 18 10 8 Subtotal 1,875 1,692 183 State FYE 2017 FYE 2012 5-Year Growth Arka
Slide 9: 500-Mile Distribution Radius
500-Mile Distribution Radius 42 26 148 18 440 91 518 134 158 18 37 326 11 8 3 1 - Ankeny, IA 2 - Terre Haute, IN 1 2
Slide 10: 1,000 to 20,000 Population Communities
1,000 to 20,000 Population Communities Core States Newer States(1) State Total(2) With Casey’s Without Casey’s Iowa 252 228 24 Illinois 547 299 248 Missouri 306 182 124 Kansas 172 99 73 Minnesota 300 96 204 Nebraska 96 58 38 Indiana 262 67 195 S. Dakota 59 24 35 Wisconsin 317 15 302 Subtotal 2,311 1
Slide 11: Re-Invest in Existing Stores
Re-Invest in Existing Stores Fiscal Year Major Remodels Replacements 2013 77 26 2014 25 20 2015 27 27 2016 102 11 2017 103 21 2018 Guidance 75 30 Type Sq Ft Building Equip. Total Investment Major Remodel 600 $0.35 $0.35 $0.7 2017 Remodel Average ($ in millions) Generate Incremental Returns by Adding
Slide 12: In-Store Growth Opportunities
In-Store Growth Opportunities Fiscal Year 24-Hours Delivery 2013 200 200 2014 130 80 2015 110 12 2016 110 110 2017 89 161 Since Inception 1,000 580 2018 Guidance 75 100 Expanded Hours of Operation Delivery
Slide 13: In-Store Growth Opportunities: Digital Engagement
In-Store Growth Opportunities 200 400 530 616 700 815 900 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Current Fiscal Quarter/Year Mobile App Downloads (in thousands) Current Digital Engagement Mobile App Online Ordering ~14% of All Pizza Sales ~20% Increase in Basket Size Fuel Save
Slide 14: Capital Expenditures
Capital Expenditures (In Millions) Fiscal Year New Stores and Acquisitions Remodels and Replacements All Other Total Expenditures 2013 $169 $93 $73 $335 2014 $200 $72 $68 $340 2015 $217 $80 $105 $402 2016 $192 $98 $110 $400 2017 $229 $146 $84 $459 2018 Guidance $250 to $350 $134 $116 $500 to $600
Slide 15: Senior Note Summary
Senior Note Summary Issuance Outstanding Principal (in Millions) Interest Rate Due 2006 (Series A) $22.5 5.72% September 30, 2019 2006 (Series B) $22.5 5.72% March 30, 2020 2010 $569 5.22% August 9, 2020 2013 (Series A) $150 3.67% June 15, 2028 2013 (Series B) $50 3.75% December 18, 2028 2016 (Serie
Slide 16: Same-Store Sales and Margin
Same-Store Sales and Margin Same-Store Sales Gross Profit Margin Fiscal Year Fuel Gallons Grocery & Other Merchandise Prepared Food & Fountain 2013 0.1% 0.8% 8.6% 2014 3.1% 7.4% 11.8% 2015 2.6% 7.8% 12.4% 2016 3.0% 7.1% 8.4% 2017 2.1% 2.9% 4.8% 2018 Guidance 1.0% - 2.0% 2.0% - 4.0% 5.0% - 7.0% Fisca
Slide 17: Fuel Margin
Fuel Margin 10.6 10.5 9.8 11.1 9.6 10.9 10.1 10.7 11.5 10.4 13.9 12.9 13.9 15.2 15.1 14.4 16.1 19.3 19.6 18.4 8.0 12.0 16.0 20.0 C e nts p e r Ga llo n Fiscal Year
Slide 18: Fuel
Fuel 1,535 1,666 1,817 1,952 2,062 2013 2014 2015 2016 2017 Fiscal Year Fuel Gallons Sold (in Millions) Gross Profit (in Millions) $221 $268 $351 $382 $378 2013 2014 2015 2016 2017 Fiscal Year
Slide 19: Grocery & Other Merchandise
Grocery & Other Merchandise $1,419 $1,583 $1,795 $1,974 $2,087 2013 2014 2015 2016 2017 Fiscal Year Revenue (in Millions) Gross Profit (in Millions) $463 $508 $576 $629 $657 2013 2014 2015 2016 2017 Fiscal Year
Slide 20: Prepared Food & Fountain
Prepared Food & Fountain $565 $659 $781 $881 $953 2013 2014 2015 2016 2017 Fiscal Year Revenue (in Millions) Gross Profit (in Millions) $349 $403 $466 $550 $594 2013 2014 2015 2016 2017 Fiscal Year
Slide 21: Financial Performance: Gross Profit and EBITDA
Financial Performance $1,071 $1,222 $1,440 $1,614 $1,681 2013 2014 2015 2016 2017 Fiscal Year Total Gross Profit (in Millions) EBITDA (in Millions) $311 $365 $479 $560 $509 2013 2014 2015 2016 2017 Fiscal Year
Slide 22: Financial Performance: Net Income and EPS
Financial Performance $104 $127 $181 $226 $177 2013 2014 2015 2016 2017 Fiscal Year Net Income (in Millions) Diluted Earnings Per Share $2.69 $3.26 $4.62 $5.73 $4.48 2013 2014 2015 2016 2017 Fiscal Year
Slide 23: Dividend
Dividend $0.66 $0.72 $0.80 $0.88 $0.96 2013 2014 2015 2016 2017 Fiscal Year 17 Consecutive Annual Dividend Increases
Slide 24: Share Repurchase
Share Repurchase Authorized to repurchase up to an aggregate of $300 million of the Company’s outstanding common stock Valid for a period of two years Can be suspended or discontinued at any time Period Total Number of Shares Purchased (in thousands) Average Price Paid per Share Maximum Dollar
Slide 25: Total Shareholder Return
Total Shareholder Return $100 $104 $125 $151 $207 $209 $0 $50 $100 $150 $200 $250 2012 2013 2014 2015 2016 2017 In ve stme nt Fiscal Year The graph assumes a $100 investment in the Company’s Common Stock on April 30, 2012 and reinvestment of all dividends. The total shareholder return shown is not i