Q2 2025 Caseys General Stores Inc Earnings Call Transcript
Key Points
- Casey's General Stores Inc (CASY) reported a 14% increase in diluted earnings per share, net income, and EBITDA compared to the previous year.
- The company successfully expanded gross profit dollars while controlling operating expenses, showcasing the strength of its business model.
- Inside same-store sales increased by 4% for the second quarter, with prepared food and dispensed beverage sales leading the way.
- The acquisition of Fikes is expected to contribute significantly to inside sales and fuel gallons in the second half of fiscal 2025.
- Casey's General Stores Inc (CASY) maintained a strong balance sheet with total available liquidity of $1.25 billion as of October 31, 2024.
- Total revenue for the quarter decreased by 2.9% from the prior year, primarily due to a decline in the retail price of fuel.
- Same-store fuel gallons sold were down 0.6%, although the company outperformed its geographic region.
- The Fikes acquisition is expected to be modestly dilutive in the third quarter due to onetime deal and integration costs.
- Operating expenses increased by 5.2%, with a significant portion attributed to unit growth and wage increases.
- The effective tax rate increased to 24.5% from 23.6% in the prior year, driven by a onetime benefit that did not repeat.
Good day, and thank you for standing by. Welcome to the Second Quarter FY 2025 Casey's General Stores Earnings Conference Call. (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Brian Johnson, Senior Vice President of Investor Relations, and Business Development. Please go ahead.
Good morning, and thank you for joining us to discuss the results from our second quarter ended October 31, 2024. I'm Brian Johnson, Senior Vice President, Investor Relations, and Business Development. With me today are Darren Rebelez, Board Chair, President, and Chief Executive Officer; as well as Steve Bramlage, Chief Financial Officer.
Before we begin, I'll remind you that certain statements made by us during this investor call may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward
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