CASY reported earnings today after the market close.
Casey’s General Stores Inc. (CASY) announced earnings for third quarter that decreased compared to the same period last year.
The company said its bottom line totaled $38.10 million, or $0.97 per share. This was down from $39.32 million, or $1.01 per share, in last year’s third quarter.
Analysts had expected the company to earn $0.94 per share, according figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
Here’s a look at their latest numbers:
Revenue (billions) Q1 Q2 Q3 Q4 2014 1.790 1.920 2015 2.291 2.150 1.672 1.654 2016 2.049 1.925 1.566 EPS (Diluted) Q1 Q2 Q3 Q4 2014 0.33 0.54 2015 1.28 1.28 1.01 1.05 2016 1.57 2.00 0.97
Current (2016 Q3 Earnings):
Revenue Growth (billions)
2014 Q4 TTM Revenue = 8.033
2015 Q4 TTM Revenue = 7.194
Year Over Year Revenue Growth = -10.44%, previously -10.44%
EPS Growth (non-GAAP)
2014 Q4 TTM Earnings = 4.11
2015 Q4 TTM Earnings = 5.59
Year Over Year EPS Growth = 36%, previously 64%
P/E (Check Current Price) = 102.36/5.59 = 18.31
1YPEG = 18.31/36 = 0.51
I was concerned about their drop in earnings, but the press release contained this nugget:
“Total inside gross profit was up over 13% in the third quarter, driven primarily by improved margin performance in our prepared food category,” stated Chairman and CEO Robert J. Myers. “Our fuel margin per gallon was above our annual goal but still below prior year’s strong results, which impacted diluted earnings per share by approximately 30 cents compared to prior year’s third quarter.”
You can read the entire press release at https://www.caseys.com/sites/default/files/3rdQtrfy2016.pdf
Does this make sense though? I thought margins increased as gas prices dropped so wouldn’t this year’s margins on gas be higher? Maybe there’s a happier middle ground than extremes in either direction?
Price looks to have dropped a percentage point or two in the AH.
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