Casey's Says Not Updating Its FY25 Outlook Until After Closing Of Fikes Deal, With Exception Of Store Growth, Which Is Now Expected To Be ~270 Units
Portfolio Pulse from Benzinga Newsdesk
Casey's General Stores will not update its FY25 outlook until after the Fikes deal closes, except for store growth, now expected at ~270 units. The company anticipates an EBITDA increase of at least 8%, inside same-store sales growth of 3% to 5%, and stable inside margins. Same-store fuel gallons sold are expected to range from -1% to +1%. Operating expenses are projected to rise by 6% to 8%, with net interest expense at $56 million, depreciation and amortization at $390 million, and property and equipment purchases at $575 million.
September 04, 2024 | 9:07 pm
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Casey's General Stores is delaying its FY25 outlook update until the Fikes deal closes, except for store growth, now expected at ~270 units. The company projects an EBITDA increase of at least 8% and same-store sales growth of 3% to 5%.
The delay in updating the FY25 outlook until after the Fikes deal closure suggests a strategic focus on the acquisition's impact. The positive projections for EBITDA and same-store sales growth indicate a strong performance outlook, likely boosting investor confidence.
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