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Casey's General Stores Shares Drop 5% After Q4 Miss
Jun 7, 2023 7:07 PM - Davit Kirakosyan
Image credit: FMP
Casey's General Stores (NASDAQ:CASY) shares fell around 5% today after the company reported its Q4 results, with EPS coming in at $1.49, missing the Street estimate of $1.56. Revenue was $3.33 billion, below the Street estimate of $3.38 billion.
Although Q4 adjusted EBITDA of $167 million was below expectations, contributions from the two key inside store categories (Grocery and Prep Food) were close to forecast, two-thirds of the gap to forecast was gas margins, which are highly volatile, the balance was "Other" category.
For the full 2024 year, the company expects inside same-store sales to grow in the range of 3%- 5% and inside margin to improve in the range of 40%-41%.
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