Ankeny, Iowa, January 31, 2023–(BUSINESS WIRE)–Casey’s General Stores, Inc. (“Casey’s” or the “Company”) (NASDAQ: CASY), one of the nation’s leading convenience store chains, today participated in a “non-trade The following business update was released prior to Roadshow:
The performance so far in the third quarter remains in line with our expectations for the full year. Specifically, same-store internal sales for the quarter were in the lower half of our annual growth range of 5-7%. Same-store fuel gallons growth in the quarter was near the low end of flat to 2% annualized growth. The fuel margin (cpg) for the third quarter to date is similar to the fuel margin we reported for the second quarter. Excluding the non-recurring items below, total operating expense growth is expected to be near the low end of 9-10% annual growth.
During the quarter, the company received approximately $15 million in one-time payments for resolving certain legal issues. These gains will be recorded as a reduction in operating expenses for the quarter and were not included in prior operating expense guidance for the third quarter or current fiscal year.
Casey’s is a Fortune 500 company (NASDAQ: CASY) that operates more than 2,400 convenience stores. Founded more than 50 years ago, the company has grown to become the third largest convenience store retailer and fifth largest pizza chain in the United States. Casey’s offers freshly prepared food, premium fuel and friendly service wherever it is located. Guests can enjoy pizza, donuts, and a variety of other baked goods, as well as a variety of beverages and snacks. Learn more and order online at www.caseys.com or the mobile app.
This press release contains statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to expected, possible or assumed future results of operations, financial condition, liquidity and related sources or requirements for future periods Statements about, business and/or integration strategies, plans and synergies, supply chain, growth opportunities, performance of our stores. There are a number of known and unknown risks, uncertainties and other factors that could cause our actual results to differ materially from any results expressed or implied in these forward-looking statements, including, but not limited to, the execution of our strategic plans, the Consolidation and financial performance, wholesale fuel, inventory and feedstock costs, distribution challenges and disruptions, impact and duration of COVID-19 and related government actions, impact and duration of conflict in Ukraine or other geopolitical disruptions, and other risks, uncertainties and factors are described in the company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are filed with the Securities and Exchange Commission and available on our website. Any forward-looking statements contained in this news release represent our current beliefs about future events as of the date of this news release, and Casey’s disclaims any intention or obligation to update or revise any forward-looking statements in this news release, whether as a result of new information , future events or otherwise.
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