Casey's General Stores slips after quarterly results

Caseys General Stores

09/12/2024 22:57

** Shares of convenience store chain operator Casey's
General Stores  CASY.O  fall 2.4% to $408 aftermarket
    ** Casey's reports Q2 revenue of $3.95 bln, missing Street
estimate of $4.02 bln - data compiled by LSEG 
    ** Casey's said in July it would acquire Fikes Wholesale,
owner of CEFCO convenience stores, for $1.15 billion in an
all-cash transaction
    ** For the H2 FY25 specifically related to the Fikes
transaction, Casey's expects to incur an additional $15 to $20
million in one-time deal and integration costs, primarily in the
third quarter, the company said 
     ** Interest expenses will be approximately $35 million
higher than the original outlook due to the financing of the
transaction - Casey's 
    ** Adds total operating expenses are expected to increase
11% to 13% for the fiscal year
    ** However, Q2 adjusted EPS of $4.85 beats estimate of $4.28
    ** Casey's expects to add approximately 270 stores for the
fiscal year and expects inside same-store sales to increase 3%
to 5% 
    ** Including session moves, CASY up 52.2% YTD

 (Reporting by Abhinav Parmar in Bengaluru)
 ((Abhinav.parmar@thomsonreuters.com))