Casey's General Stores (CASY) Tops Q1 EPS by 1c, Updates FY Gudiance
Casey's General Stores (NASDAQ: CASY) reported Q1 EPS of $1.46, $0.01 better than the analyst estimate of $1.45. Revenue for the quarter came in at $2.09 billion versus the consensus estimate of $2.16 billion.
Fiscal 2018 Guidance - Based on the ongoing softening of traffic experienced in the first quarter, the Company is revising its prepared food and fountain same-store sales guidance to 4.0% to 6.0% from 5.0% to 7.0%. Also, due to the continued increase in new store construction activity and the number of acquisition stores under agreement, the Company is revising its expansion guidance to build or acquire 90 to 120 stores from 80 to 120 stores. There were no other changes to the fiscal 2018 guidance. Below is a summary of the previous and current fiscal 2018 guidance:
Same-store Sales | Average Margin | ||||||
Previous | Current | Previous | Current | ||||
Fuel (Gallons and CPG) | 1.0 - 2.0% | 1.0 - 2.0% | 18.0 - 20.0 | 18.0 - 20.0 | |||
Grocery and Other Merchandise | 2.0 - 4.0% | 2.0 - 4.0% | 31.0 - 32.0% | 31.0 - 32.0% | |||
Prepared Food and Fountain | 5.0 - 7.0% | 4.0 - 6.0% | 61.5 - 62.5% | 61.5 - 62.5% | |||
Previous | Current | ||||||
Operating Expenses | 9.0 - 11.0% | 9.0 - 11.0% | |||||
Depreciation and Amortization | 13.0 - 15.0% | 13.0 - 15.0% | |||||
Build or Acquire | 80 - 120 stores | 90 - 120 stores | |||||
Replacements | 30 stores | 30 stores | |||||
Major Remodels | 75 stores | 75 stores | |||||
For earnings history and earnings-related data on Casey's General Stores (CASY) click here.