In This Story
Caseys General Stores Inc. (CASY-0.19%) has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing reports total revenue of $3,946,771 for the second quarter of fiscal 2025, a decrease from $4,064,400 in the same quarter of the previous year. The decrease is attributed to a reduction in retail fuel revenue due to a decrease in the average retail price per gallon.
Prepared food and dispensed beverage revenue increased by 9.2% due to strong sales of hot sandwiches and dispensed beverages, as well as an increase in the number of stores. Grocery and general merchandise revenue also saw an increase of 8.8%.
Net income for the quarter was $180,918, up from $158,782 in the previous year. This increase was primarily due to higher profitability both inside the store and in fuel, partially offset by higher operating expenses and depreciation.
Operating expenses for the quarter increased by 5.2% to $609,679, with approximately 4% of the increase due to operating 93 more stores than the comparable period in the prior year.
The company reported an effective tax rate of 24.5% for the quarter, compared to 23.6% in the same period of fiscal 2024.
Caseys General Stores Inc. completed the acquisition of Fikes Wholesale on November 1, 2024, bringing 198 additional stores into its network. This acquisition was financed through an incremental term loan and the issuance of senior notes.
The company continues to expand its electric vehicle charging stations and renewable fuel options across its store network, reflecting its commitment to environmental stewardship.
Caseys General Stores Inc. operates 2,685 convenience stores in 17 states as of October 31, 2024, with plans to integrate newly acquired stores into its existing operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Caseys General Stores Inc. quarterly 10-Q report dated December 9, 2024. To report an error, please email earnings@qz.com.