Research Desk Line-up: Village Super Market Post Earnings Coverage

LONDON, UK / ACCESSWIRE / June 23, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Casey's General Stores, Inc. (NASDAQ: CASY), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=CASY, following the Company's disclosure of its financial results for the fourth quarter fiscal 2017 (Q4 FY17) and full year 2017 (FY17) on June 05, 2017. The Ankeny, Iowa-based Company's quarterly total revenues and gross profit increased on a year-over-year basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Grocery Stores industry. Pro-TD has currently selected Village Super Market, Inc. (NASDAQ: VLGEA) for due-diligence and potential coverage as the Company reported on June 07, 2017, its results of operations for Q3 which ended on April 29, 2017. Register for a free membership today, and be among the early birds that get access to our report on Village Super Market when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on CASY; also brushing on VLGEA. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=CASY

http://protraderdaily.com/optin/?symbol=VLGEA

Earnings Reviewed

For the three months ended on April 30, 2017, Casey's reported total revenue of $1.85 billion compared to total revenue of $1.58 billion recorded at the end of Q4 FY16. Total revenue numbers underperformed market estimates of $1.87 billion

The convenience stores recorded net income of $30.08 million, or $0.76 per diluted share, in Q4 FY17, compared to $47.04 million, or $1.19 per diluted share, in Q4 FY16. The Company's reported net income was also below market expectations of $0.89 per diluted share.

Casey's total revenues during full year FY17 stood at $7.51 billion, up from $7.12 billion in FY16. The Company posted net income of $177.49 million, or $4.48 per diluted share, in FY17 compared to $225.98 million, or $5.73 per diluted share, in FY16.

Operating Metrics

During the reported quarter, Casey's gross profit increased to $398.22 million from $388.22 million in Q4 FY16. However, the Company's gross margin fell to 21.6% in Q4 FY17 from 24.5% in Q4 FY16. Furthermore, operating expenses increased by 11.4% on a y-o-y basis to $292.59 million from $262.62 million in Q4 FY16.

Segment-wise

Casey's recorded a 0.5% y-o-y same-store sales decline in its Fuel Gallons segment during Q4 FY17 compared to a growth of 4.6% in the prior year's comparable quarter. The segment generated gross profit of $85.59 million on revenues of $1.10 billion in the reported quarter compared to gross profit of $85.83 million on revenues of $873.08 million in Q4 FY16. Additionally, the fuel margin for Q4 FY17 was 17.2¢ versus 17.8¢ reported in Q4 FY16.

In Q4 FY17, Grocery and Other Merchandise segment reported same-store sales growth 1.5% versus a growth of 7.4% in the year ago comparable period. Gross profit from the segment during Q4 FY17 was $155.37 million on revenues of $500.07 million compared to a gross profit of $153.30 million on revenues of $477.49 million in Q4 FY16. The segment's gross margin fell to 31.1% during the reported period from 32.1% in Q4 FY16.

Prepared Food and Fountain segment registered same-store sales growth 3.2% in Q4 FY17 compared to a growth of 8.2% in Q4 FY16. For the reported quarter, gross profit from the segment was $143.77 million on revenues of $233.15 million compared to a gross profit of $135.07 million on revenues of $218.35 million in Q4 FY16.

Balance Sheet

As on April 30, 2017, Casey's had cash and cash equivalents of $76.72 million compared to $75.78 million as on April 30, 2016. Furthermore, the Company had reported long-term debt, net of current maturities amounting to $907.36 million as on April 30, 2017, versus $822.87 million as on April 30, 2016.

Dividend and Share Repurchase

Casey's Board of Directors increased the quarterly dividend to $0.26 per share in its meeting held in June 2017. The dividend will be paid on August 15, 2017, to shareholders of record on August 01, 2017.

The Company repurchased 443,800 shares of its common stock for approximately $49.4 million, or an average price of $111.25 per share, since the inception of share repurchase program on March 09, 2017. Furthermore, the Company has total remaining authorized share repurchases of $250.6 million as of April 30, 2017.

Goal for FY18

In its guidance for FY17, Casey's expects to improve on same-store gallons sales in the range of 1.0% to 2.0% with an average margin range of 18.0¢ to 20.0¢ per gallon. For Grocery and Other Merchandise segment, the Company's management has a target growth range of 2.0% to 4.0% in its same-store sales for FY15 with an average margin in the range of 31.0% to 32.0%. Additionally, the Company wants to achieve same-store sales growth in the range of 5.0% to 7.0% in FY17 with an average margin in the range of 61.5% to 62.5% in its Prepared Food and Fountain segment.

Stock Performance

On Thursday, June 22, 2017, Casey's General Stores' stock closed the trading session at $105.60, slipping 1.30% from its previous closing price of $106.99. A total volume of 391.56 thousand shares were exchanged during the session. Shares of the Company have a PE ratio of 23.57 and have a dividend yield of 0.98%. The stock currently has a market cap of $4.17 billion.

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SOURCE: Pro-Trader Daily