Casey's General Stores (CASY) Tops Q4 EPS by 12c, Offers Outlook, Raises Dividend
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Casey's General Stores (NASDAQ: CASY) reported Q4 EPS of $1.60, $0.12 better than the analyst estimate of $1.48. Revenue for the quarter came in at $3.46 billion versus the consensus estimate of $3.37 billion.
- Casey's increased the quarterly dividend 9% to $0.38 per share, marking the 23rd consecutive annual increase.
Fiscal 2023 Outlook:
Casey's expects the following performance during fiscal 2023. The Company expects same-store inside sales to increase 4% to 6% and maintain an inside margin of approximately 40%. The Company expects same-store fuel gallons to be flat to 2% higher. Total operating expenses are expected to increase approximately 9% to 10%. The Company expects to add approximately 80 stores in fiscal 2023, and expects to exceed our stated three year commitment of 345 units. Interest expense is expected to be approximately $55 million. Depreciation and amortization is expected to be approximately $320 million and the purchase of property plant and equipment is expected to be approximately $450 to $500 million, including approximately $135 million in one-time store remodel costs for recently acquired stores. The tax rate is expected to be approximately 24% to 26% for the year.
For earnings history and earnings-related data on Casey's General Stores (CASY) click here.
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