On June 13, Casey's General Stores (NASDAQ:CASY) released fourth-quarter earnings for the period ended April 30.
- Net sales surged by 13.5%, with good growth from the gasoline, grocery, and prepared foods segments.
- The gross margin increased 120 basis points, with rising gasoline and prepared food margins fueling most of the increase, but offset by higher drink costs from its "dual cola program."
- An increase in credit card usage fees offset the higher gasoline margins, reducing the operating margin gain.
(Figures in millions, except per-share data.)
Income Statement Highlights
|
Q4 2007 |
Q4 2006 |
Change | |
|---|---|---|---|
|
Sales |
$1,002.9 |
$883.4 |
13.5% |
|
Net Profit* |
$18.0 |
$11.0 |
64.1% |
|
EPS |
$0.33 |
$0.21 |
57.1% |
Get back to basics with the income statement.
Margin Checkup
|
Q4 2007 |
Q4 2006 |
Change* | |
|---|---|---|---|
|
Gross Margin |
15.2% |
14.0% |
1.2 |
|
Operating Margin |
3.0% |
2.2% |
0.8 |
|
Net Margin |
1.8% |
1.2% |
0.6 |
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q4 2007 |
Q4 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$107.1 |
$75.4 |
42.1% |
|
Accounts Rec. |
$13.4 |
$11.0 |
21.8% |
|
Inventory |
$109.7 |
$96.2 |
14.0% |
|
Liabilities |
Q4 2007 |
Q4 2006 |
Change |
|---|---|---|---|
|
Accounts Payable |
$134.4 |
$146.1 |
(8.0%) |
|
Long-Term Debt |
$199.5 |
$106.5 |
87.3% |
The balance sheet reflects the company's health.
Cash Flow Highlights
Casey's should consider stepping up to the plate by including a cash flow statement in future releases.
Free cash flow is a Fool's best friend.
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Starbucks is a Motley Fool Stock Advisor pick.
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