Casey's General Stores Files 2024 10-K

TL;DR

Casey's 2024 10-K is in. Full financials for FY24 are out.

AI Summary

Casey's General Stores Inc. filed its 10-K for the fiscal year ending April 30, 2024, reporting on its operations. The company, headquartered in Ankeny, Iowa, operates in the retail auto dealers & gasoline stations sector. Key financial data and operational details for the fiscal years 2021 through 2024 are included in the filing.

Why It Matters

This filing provides investors and analysts with a comprehensive overview of Casey's financial performance and strategic positioning for the fiscal year 2024, crucial for understanding the company's health and future prospects.

Risk Assessment

Risk Level: low — This is a standard annual financial filing (10-K) for a publicly traded company, providing historical data and disclosures.

Key Numbers

• 2024 — Fiscal Year (Reporting period for the 10-K filing.)
• 2023 — Fiscal Year (Previous fiscal year for comparison.)
• 2022 — Fiscal Year (Prior fiscal year for trend analysis.)
• 2021 — Fiscal Year (Earlier fiscal year for historical context.)

Key Players & Entities

• CASEYS GENERAL STORES INC (company) — Filer
• 0000726958 (company) — Central Index Key
• Ankeny, IA (location) — Business Address
• 515-965-6100 (phone) — Business Phone
• 20240430 (date) — Fiscal Year End

FAQ

Key Financial Figures

• $271.91 — llion based on the closing sales price ($271.91 per share) as quoted on the NASDAQ Glob
• $1.0 million — pation (including a Company donation of $1.0 million during the 2024 fiscal year) and utiliz

Filing Documents

• casy-20240430.htm (10-K) — 1171KB
• casy-ex49_2024430xq4.htm (EX-4.9) — 14KB
• casy-ex1013_2024430xq4.htm (EX-10.13) — 41KB
• casy-ex1014_2024430xq4.htm (EX-10.14) — 43KB
• casy-ex1015_2024430xq4.htm (EX-10.15) — 64KB
• casy-ex1016_2024430xq4.htm (EX-10.16) — 66KB
• casy-ex1018_2024430xq4.htm (EX-10.18) — 39KB
• casy-ex1019_2024430xq4.htm (EX-10.19) — 38KB
• casy-ex211_2024430xq4.htm (EX-21.1) — 7KB
• casy-ex231_2024430xq4.htm (EX-23.1) — 2KB
• casy-ex311_2024430xq4.htm (EX-31.1) — 12KB
• casy-ex312_2024430xq4.htm (EX-31.2) — 12KB
• casy-ex321_2024430xq4.htm (EX-32.1) — 5KB
• casy-ex322_2024430xq4.htm (EX-32.2) — 4KB
• casy-ex971_2024430xq4.htm (EX-97.1) — 40KB
• 0000726958-24-000046.txt ( ) — 6863KB
• casy-20240430.xsd (EX-101.SCH) — 40KB
• casy-20240430_cal.xml (EX-101.CAL) — 93KB
• casy-20240430_def.xml (EX-101.DEF) — 177KB
• casy-20240430_lab.xml (EX-101.LAB) — 574KB
• casy-20240430_pre.xml (EX-101.PRE) — 378KB
• casy-20240430_htm.xml (XML) — 854KB

ITEM 1. Business

PART I ITEM 1. Business 4

Risk Factors

ITEM 1A. Risk Factors 9

Unresolved Staff Comments

ITEM 1B. Unresolved Staff Comments 16

Cybersecurity

ITEM 1C. Cybersecurity 16

Properties

ITEM 2. Properties 17

Legal Proceedings

ITEM 3. Legal Proceedings 17

Mine Safety Disclosures

ITEM 4. Mine Safety Disclosures 17 PART II ITEM 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 18

[Reserved]

ITEM 6. [Reserved] 19

Management's Discussion and Analysis of Financial Condition and Results of Operations

ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosures about Market Risk

ITEM 7A. Quantitative and Qualitative Disclosures about Market Risk 29

Financial Statements and Supplementary Data

ITEM 8. Financial Statements and Supplementary Data 30

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

ITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 51

Controls and Procedures

ITEM 9A. Controls and Procedures 51

Other Information

ITEM 9B. Other Information 51

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

ITEM 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 51

ITEM 10. Directors, Executive Officers and Corporate Governance

PART III ITEM 10. Directors, Executive Officers and Corporate Governance 52

Executive Compensation

ITEM 11. Executive Compensation 52

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

ITEM 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 52

Certain Relationships and Related Transactions and Director Independence

ITEM 13. Certain Relationships and Related Transactions and Director Independence 52

Principal Accountant Fees and Services

ITEM 14. Principal Accountant Fees and Services 52

ITEM 15. Exhibits and Financial Statement Schedules

PART IV ITEM 15. Exhibits and Financial Statement Schedules 53

Form 10-K Summary

ITEM 16. Form 10-K Summary 55

Signatures

Signatures 56 3 Table of Contents PART I

BUSINESS

ITEM 1. BUSINESS The Company As of April 30, 2024, Casey's General Stores, Inc. and its direct and indirect wholly-owned subsidiaries operate convenience stores primarily under the names "Casey's" and "Casey's General Store" (collectively, with the stores below referenced as "GoodStop", "Bucky's", "Minit Mart", or "Lone Star Food Store" referred to as "Casey's" or the "Company") throughout 17 states, over half of which are located in Iowa, Missouri, and Illinois. Approximately 72% of all stores were opened in areas with populations of fewer than 20,000 persons. The Company competes on the basis of price, as well as on the basis of traditional features of convenience store operations such as location, extended hours, product offerings, and quality of service. As of April 30, 2024, there were a total of 2,658 stores in operation. All convenience stores carry a broad selection of food items (including, but not limited to, freshly prepared foods such as regular and breakfast pizza, donuts, hot breakfast items, and hot and cold sandwiches), beverages, tobacco and nicotine products, health and beauty aids, automotive products, and other nonfood items. As of April 30, 2024, 233 store locations offered car washes. In addition, all but eight store locations offer fuel for sale on a self-service basis. The Company had 62 stores operating under the "GoodStop (by Casey's)" brand and 10 stores operating under the "Lone Star Food Store" brand as of April 30, 2024. Similar to most of our store footprint, the "GoodStop" and "Lone Star Food Store" locations offer fuel for sale on a self-serve basis, and a broad selection of snacks, beverages, tobacco products, and other essentials. However, some of these locations do not have a kitchen and have limited prepared food offerings. The Company is also temporarily operating certain locations acquired from Buchanan Energy under the name "Bucky's" and certain locations acquired from Minit Mart LLC under the name "Minit Mart." The Com

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View this 10-K filing on SEC EDGAR