Q1 2015 EPS should be $1.34?
Hey Nomb, good catch! You’re right. I did some investigating, double checking everything, and when you click on their 2016 Q1 earnings report (reported September 9, 2015) from their IR site it takes you to their 2016 Q2 report. Thus when I thought I was getting their reported EPS from a year ago I was really getting their numbers from their previous Q2 report. So thanks for catching that.
https://www.caseys.com/press_and_documents
I’ll update the numbers tonight. Thanks.
Now, instead of guiding for the 7% comps that they are actually achieving, they again promise 10.2% growth for FY17. That’s a bad setup as they have not been able to deliver on it in the last 6 months!
Yeah, its weird that they would over-promise and under-deliver in this day and age. Most companies try to do the opposite. Given that its coming up on summer season, when Americans drive more, they might be able to meet these goals again in the first half of their fiscal year. Hopefully they’ll figure out why they missed these goals in the second half this year and be able to rectify the problem next year.
The new distribution plant and the third one already being planned should hopefully help them expand quicker going forward.
Matt
Long CASY
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