Originally published at www.seclive.com
Filing in Focus: Casey's General Stores 10-Q, September 9, 2013
Casey's General Stores, Inc. (NASDAQ:CASY) announced its first quarter financial results, reporting a 43% earnings increase. The company converted its stores to 24/7 operations, which contributed significantly to its quarterly earnings. Casey's quarterly profit increased from $39M, or $1.01 earnings per share, to $55.7M, or $1.43 earnings per share. Revenue jumped 13% to $2.11B while its gross margin increased from 15.4% to 16.3%. Gasoline same-store sales increased 3.2% while the margin increased from $0.149 to $0.221 per gallon from this quarter last year. Gasoline, which represents the majority of Casey's revenue, received a boost from the sale of renewable fuel credits for $12.9M. Grocery and merchandise sales increased 6.1% but the segment margin dropped from 33.4% to 32.7%.
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