Caseys General Stores GAAP EPS of $4.09 beats by $0.36, revenue of $4.45B misses by $20M

• Caseys General Stores press release (NASDAQ:CASY): Q1 GAAP EPS of $4.09 beats by $0.36.
• Revenue of $4.45B (+39.9% Y/Y) misses by $20M.

• Fiscal 2023 Outlook

  The Company's fiscal 2023 outlook previously disclosed remains unchanged.

• The Company expects same-store inside sales to increase 4% to 6% and maintain an inside margin of approximately 40%.

• The Company expects same-store fuel gallons to be flat to 2% higher.

• Total operating expenses are expected to increase approximately 9% to 10%.

• The Company expects to add approximately 80 stores in fiscal 2023, and expects to exceed our stated three year commitment of 345 units.

• Interest expense is expected to be approximately $55 million. Depreciation and amortization is expected to be approximately $320 million and the purchase of property plant and equipment is expected to be approximately $450 to $500 million, including approximately $135 million in one-time store remodel costs for recently acquired stores.

• The tax rate is expected to be approximately 24% to 26% for the year.