Q3 2025 Caseys General Stores Inc Earnings Call Transcript
Key Points
- Casey's General Stores Inc (CASY) reported a strong increase in EBITDA, up 11% from the prior year, reaching $242 million.
- Inside sales grew over 15%, and fuel gallons sold increased by over 20%, indicating strong operational performance.
- The company successfully integrated the largest transaction in its history, the Fikes acquisition, while maintaining strong financial results.
- Prepared food innovation, such as hot sandwiches and bakery items, drove strong performance with significant sales increases.
- Casey's General Stores Inc (CASY) maintained a strong balance sheet with a leverage ratio of 2.1 times, aiming to reach 2 times by the end of the fiscal year.
- Net income remained flat at $87 million compared to the prior year, indicating no growth in profitability.
- The addition of CEFCO stores, which have a lower margin profile, negatively impacted overall margins.
- Fuel margin per gallon decreased by $0.29 compared to the prior year, partly due to the impact of the CEFCO stores.
- Operating expenses increased by 17.8%, driven by unit growth and integration costs associated with the Fikes transaction.
- The Fikes acquisition was EBITDA dilutive in the quarter due to integration-related expenses, impacting overall profitability.
Good day and thank you for standing by. Welcome to the Q3 fiscal year 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 third quarter ended January 31, 2025. I'm Brian Johnson, Senior Vice President, Investor Relations and Business Development. With me today are Darren Reebelez, Chairman, President and Chief Executive Officer, as well as Steve Bramlage, Chief Financial Officer.
Before we begin, I 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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