On Sept. 6, Casey's General Stores
- Sales met expectations, but earnings missed analyst estimates by $0.12 per share on lower margins on gasoline and lower same-store gallons sold of gasoline.
- Gross, operating, and net margins declined substantially.
- Balance sheet changes are close to being in line with sales growth, but $100 million in additional debt will be taken on to fund acquisitions.
(Figures in thousands, except per-share data)
Income Statement Highlights
Avg. Est. |
Q1 2007 |
Q1 2006 |
Change |
|
---|---|---|---|---|
Sales |
$1,100,000 |
$1,100,544 |
$857,702 |
28.3% |
Net |
-- |
$16,901 |
$20,892 |
($19.1%) |
EPS |
$0.45 |
$0.33 |
$0.41 |
(19.5%) |
Dil. |
51,215 |
50,956 |
0.5% |
*Not provided by the company. Estimated using EPS and net income.
Get back to basics with a look at the income statement.
Margin Checkup
Q1 2006 |
Q1 2005 |
Change* |
|
---|---|---|---|
Gross Margin |
13.25% |
16.36% |
(3.11) |
Operating Margin |
2.68% |
4.34% |
(1.66) |
Net Margin |
1.54% |
2.44% |
( .9) |
*Expressed in percentage points.
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
Assets |
Q1 2006 |
Q1 2005 |
Change |
---|---|---|---|
Cash + ST Invest. |
$60,003 |
$71,500 |
(16.1%) |
Accounts Rec. |
$10,045 |
$8,200 |
22.5% |
Inventory |
$106,779 |
$79,400 |
34.5% |
Liabilities |
Q1 2006 |
Q1 2005 |
Change |
---|---|---|---|
Accounts Payable |
$129,543 |
$115,000 |
12.6% |
Long-Term Debt |
$94,617 |
$111,200 |
(14.9%) |
Learn the ways of the balance sheet.
Cash Flow Highlights
Not provided by company.
Find out why Fools always follow the money.
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At the time of publication,Nathan Parmelee had no positions in any of the companies mentioned. Fool rules are here.