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Caseys General Stores Inc. (CASY) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements for the quarter, showing an increase in total revenue to $3,903,633,000 from $3,329,247,000 in the same quarter the previous year. This increase was primarily driven by the acquisition of Fikes Wholesale, which added 198 stores and a wholesale fuel network.
Prepared food and dispensed beverage revenue increased by 13.7% to $397,151,000, while grocery and general merchandise revenue rose by 15.9% to $1,003,274,000. Fuel revenue increased by 15.4% to $2,366,822,000 due to a 20.4% increase in gallons sold.
Operating expenses increased to $670,200,000 from $568,908,000, largely due to the addition of 254 stores and one-time acquisition costs related to the Fikes acquisition.
Net income for the quarter was $87,097,000, compared to $86,933,000 in the previous year. The effective tax rate decreased to 19.2% from 24.1% due to a one-time benefit related to the Fikes acquisition.
For the nine months ended January 31, 2025, total revenue increased to $11,948,141,000 from $11,262,898,000 in the same period the previous year. Net income for the nine-month period was $448,213,000, up from $414,952,000.
The company reported an EBITDA of $242,368,000 for the quarter, an increase of 11.4% from the previous year, attributed to higher profitability in both store operations and fuel sales.
Caseys General Stores Inc. operates 2,893 convenience stores across 20 states, with a focus on smaller communities. The company continues to expand its store count and enhance its offerings, including renewable fuel options and electric vehicle charging stations.
The filing also details the company's financial agreements, including a note purchase agreement and an amended credit agreement used to fund the Fikes acquisition.
Caseys General Stores Inc. does not anticipate any material adverse effects from ongoing legal proceedings and is committed to maintaining compliance with all regulatory requirements.
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 March 11, 2025. To report an error, please email earnings@qz.com.