ANKENY, Iowa, January 31, 2023–(BUSINESS WIRE)–Casey’s General Stores, Inc. (“Casey’s” or the “Company”) (Nasdaq: CASY), one of the leading convenience store chains in the United States, today released the following preliminary business update of its participation in a “no deal” road show:
Third quarter performance to date remains in line with our expectations for the full year. Specifically, same-store sales for the quarter are in the lower half of our annual range with an increase of 5-7%. Same-store gasoline gallons for the quarter are near the bottom of the annual range of a 2% increase. Year-to-date third quarter fuel margins (cpg) are similar to our reported second quarter fuel margins. Excluding the non-recurring item below, total operating expense growth is expected to be near the low end of the annual range with an increase of 9-10%.
During the quarter, the company received an approximately $15 million one-time payment from the resolution of certain legal matters. This revenue will be recorded as a reduction of operating expenses in the quarter and was not included in the previous operating expense guidance for the third quarter or fiscal year.
About Casey’s
Casey’s is a Fortune 500 company (Nasdaq: CASY) that operates over 2,400 convenience stores. Founded more than 50 years ago, the company has grown to become the third largest convenience store retailer and the fifth largest pizza chain in the United States. Casey’s offers freshly prepared food, quality fuel and friendly service at its locations. Guests can enjoy pizza, donuts, various other bakery items and a wide selection of drinks and snacks. Learn more and order online at www.caseys.com or on the mobile app.
Warning statement
This release contains statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including those relating to expectations for future periods, possible or assumed future results of operations , financial conditions, liquidity and related resources or needs. , business and/or integration strategies, plans and synergies, supply chain, growth opportunities, performance in our stores. There are a number of known and unknown risks, uncertainties and other factors that could cause our actual results to differ materially from any results expressed or implied by these forward-looking statements, including but not limited to the implementation of our plan strategic, integration and financial performance of acquired stores, bulk fuels, inventory and component costs, distribution challenges and disruptions, impact and duration of COVID-19 and related government actions, impact and duration of conflict in Ukraine or disruption other geopolitical factors, as well as risks, uncertainties and other factors described in the Company’s most recent annual report on Form 10-K and quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission and available on our website. Any forward-looking statements contained in this release represent our current views as of the date of this release regarding future events, and Casey’s disclaims any intention or obligation to update or revise any forward-looking statements in the release, whether as a result of new information , future events or otherwise.
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contacts
Investor Relations Contact:
Brian Johnson (515) 965-6587
Brian.johnson@caseys.com
Media Relations Contact:
Katie Peter (515) 446-6772
Katie.petru@caseys.com
