7 Sep

Casey’s 1Q18 Results: Tops Earnings, Misses on Revenue

WRITTEN BY Sonya Bells

Snapshot

Casey’s General Stores (CASY) reported its 1Q18 results after the market closed on September 5, 2017. The results relate to the three-month period ending July 31, 2017.

The company came in ahead of Wall Street analysts’ earnings expectations but fell short of the top-line projections.

Casey’s 1Q18 Results: Tops Earnings, Misses on Revenue

The adjusted EPS (earnings per share) stood at $1.46 and beat the consensus (data compiled by Thomson Reuters) by $0.01. The total revenue was $2.09 billion—$60 million short of Wall Street analysts’ expectations.

In this series, we’ll discuss the company’s key revenue drivers and profitability during the quarter.

Casey’s is included in portfolio holdings of the SPDR S&P Retail ETF (XRT) with a weight of 1.3%.

Valuations summary

Currently, Casey’s is trading at a one-year forward PE (price-to-earnings) ratio of 22.5x—compared to the three-year average of 21x. It’s expensive compared to supermarkets Kroger (KR) (11.2x) and Supervalu (SVU) (7.8x), big-box retailers Walmart (WMT) (17.7x) and Target (TGT) (12.9x), and convenience store peer Murphy USA (MUSA) (15.4x).

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