casy-20210602
0000726958false06/2/202100007269582021-06-022021-06-02

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 2, 2021

CASEY'S GENERAL STORES, INC.
(Exact name of registrant as specified in its charter)

Iowa
(State or other jurisdiction of incorporation)
001-34700 42-0935283
(Commission File Number) (I.R.S. Employer Identification Number)
One SE Convenience Blvd., Ankeny, Iowa
(Address of principal executive offices)

50021
(Zip Code)

515/965-6100
(Registrant's telephone number, including area code)

NONE
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Exchange Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, no par value per shareCASYThe NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐


Item 2.02.    Results of Operations and Financial Condition.

    On June 8, 2021, Casey's General Stores, Inc. (the "Company") issued a press release announcing its financial results for the fourth quarter and year ended April 30, 2021. A copy of the Company's press release is attached as Exhibit 99.1 and is incorporated herein by reference.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

2021 Fiscal Year Annual Incentive Payouts

On June 2, 2021, the Compensation Committee (the “Committee”) of the Company’s Board of Directors (the “Board”) authorized payment to the Company’s NEOs under the 2021 fiscal year Annual Incentive Plan. Based on the Company's performance in its 2021 fiscal year, the payouts equal 200% of the “target” for each NEO (which “target” is represented by a percentage of their 2021 fiscal year base salary), resulting in the following payments: (i) Darren M. Rebelez, President/CEO, $2,600,000; (ii) Stephen P. Bramlage, Jr., CFO, $941,625; (iii) Julia L. Jackowski, Chief Legal Officer and Secretary, $786,500; and (iv) John C. Soupene, Senior VP - Operational Excellence, $653,800.

2022 Fiscal Year Long-Term Equity Incentive Awards

On June 2, 2021, the Committee (and June 3, 2021, the Board, acting on a recommendation of the Committee with regard to Mr. Rebelez) approved annual long-term equity incentive awards to its NEOs. The awards, made under the terms of the Company’s 2018 Stock Incentive Plan, are based on a percentage of 2022 fiscal year base salary (or for Mr. Rebelez, a target amount) (Mr. Rebelez, $5,500,000; Mr. Bramlage, 225%; Ms. Jackowski, 115%; and Mr. Soupene, 125%) and consist of (i) time-based restricted stock units (“RSUs”), comprising 25% of the award amount, (ii) performance-based restricted stock units (“PSUs”) subject to return on invested capital (“ROIC”) performance goals, comprising 37.5% of the award amount, and (iii) PSUs subject to EBITDA performance goals, comprising 37.5% of the award amount. The PSUs granted represent a “target” amount, with the number of shares awarded based on the Company’s achievement of threshold (50% awarded), target (100% awarded) and maximum (200% awarded) performance goals over a three-year performance period (fiscal years 2022, 2023 and 2024) (the "Performance Period").

Additionally, following the determination of the Company’s achievement of the ROIC and EBITDA goals for the Performance Period, the PSUs actually awarded will be subject to a positive or negative adjustment based upon a comparison of the Company's total shareholder return ("TSR") relative to a comparator group for the Performance Period (the "TSR Modifier"). If the Company ranks in the bottom quartile of the group, the number of PSUs actually awarded will be reduced by 25%; if the Company ranks in the top quartile of the group, the number of PSUs actually awarded will be increased by 25% (which, based on maximum performance goals achieved, could result in a payment of up to 250% of "target" for the PSUs).

The RSUs will vest in equal installments on June 15, 2022, June 15, 2023, and June 15, 2024, and the PSUs will vest in full on June 15, 2024, subject to satisfaction of the applicable performance goals and application of the TSR Modifier, with each generally subject to continued employment through the vesting date, except as otherwise set forth in the applicable award agreement.

2022 Fiscal Year Annual Incentive Plan Awards

On June 3, 2021, the Board, acting on the recommendation of the Committee, approved annual incentive compensation for the 2022 fiscal year (the “2022 Annual Plan”). The 2022 Annual Plan will be based on EBITDA (50%), with the remaining 50% based on gross profit dollars in the fuel category (25%) and same-store sales growth in the inside sales category (25%). The payout at “target” is based on a percentage of 2022 fiscal year base salary (Mr. Rebelez, 130%; Mr. Bramlage, 75%; Ms. Jackowski, 65%; and Mr. Soupene, 70%), with an overall payout range from 0% to 200% of “target” depending on performance. All bonuses earned under the 2022 Annual Plan will be paid in cash.

2022 Fiscal Year NEO Base Salaries

On June 3, 2021, the Board, acting on the recommendation of the Committee, approved base salaries for the following NEOs for the 2022 fiscal year: (i) Mr. Rebelez, $1,050,000; (ii) Mr. Bramlage, $690,000; Ms. Jackowski, $605,000; and (iii) Mr. Soupene, $485,000.


Item 9.01.    Financial Statements and Exhibits.

    (d)    Exhibits.


    
        Exhibit No.        Description
        
99.1




SIGNATURE


    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.


CASEY'S GENERAL STORES, INC.
Dated: June 8, 2021By:/s/ Stephen P. Bramlage Jr.
Stephen P. Bramlage Jr.
Chief Financial Officer









Exhibit 99.1
logoa.jpg
FOR IMMEDIATE RELEASE
Casey’s General Stores, Inc.
One SE Convenience Blvd
Ankeny, IA 50021
Casey's Finishes Year Strong with Record Results
Ankeny, IA, June 8, 2021 - Casey’s General Stores, Inc., ("Casey's" or the "Company") (Nasdaq symbol CASY) one of the leading convenience store chains in the United States, today announced financial results for the three months and year ended April 30, 2021.

Fourth Quarter 2021 Key Highlights

•Diluted EPS of $1.12.
•Fuel margin of 33.0 cents per gallon. Fuel same-store gallons sold up 6.4%.
•Inside same-store sales were up 12.8% as inside guest counts steadily improved. Inside margin improved 100 basis points to 39.9% as compared to prior year.

Fiscal Year 2021 Key Highlights

•Closed fiscal 2021 with Diluted EPS of $8.38, an all-time high.
•Casey's generated strong cash flow and ended the year with a healthy balance sheet.
•Annual digital sales increased 96% compared to prior year with 3.6 million Casey’s Rewards members at fiscal year-end.
•Casey's recently closed on the Buchanan Energy acquisition and anticipates closing on the previously disclosed Circle K acquisition in June.

“Casey’s achieved remarkable results throughout the year in one of the most difficult retail environments of our lifetime," said Darren Rebelez, President and CEO. “The entire Casey’s team proved themselves resilient in spite of these challenges, and made excellent progress on our long-term strategic plan while keeping our people and communities safe. We have great momentum behind our digital engagement efforts, our private brand products have resonated with our guests, our prepared foods business is regaining traction, and we are in the process of welcoming two large acquisitions to the Casey's family. We are now poised to emerge from the pandemic an even stronger company.”

Earnings
Three Months Ended April 30,Twelve Months Ended April 30,
2021202020212020
Net income (in thousands)$41,698 $62,091 $312,900 $263,846 
Diluted earnings per share$1.12 $1.67 $8.38 $7.10 
Adjusted EBITDA (in thousands)$140,556 $158,961 $728,924 $650,136 

Net income, Diluted EPS, and Adjusted EBITDA (reconciled later in the document) in the fourth quarter were down as compared to the prior year due primarily to lower fuel margin and higher operating expenses, partially offset by higher inside gross profit.













Fuel
Three Months Ended April 30,Twelve Months Ended April 30,
2021202020212020
Fuel gallons sold (in thousands)535,274 487,708 2,180,772 2,293,609 
Same-store gallons sold6.4 %(14.7)%(8.1)%(5.1)%
Fuel gross profit (in thousands)$176,664 $198,803 $761,247 $614,847 
Fuel margin (cents per gallon, excluding credit card fees)33.0 ¢40.8 ¢34.9 ¢26.8 ¢

Same-store gallons sold were up significantly in the back half of the quarter due to the favorable comparison to the start of the pandemic a year ago. The Company’s overall fuel gross profit was down 11% primarily due to the unusually high fuel margin achieved last year via supply and demand shocks from COVID-19 and macroeconomic conditions in the oil industry. The centralized fuel team coupled with procurement improvements contributed to the Company's fuel margin of 33.0 cents per gallon. The Company did not sell RINs during the fourth quarter, as compared to selling $2.6 million in the prior year.

Inside
Three Months Ended April 30,Twelve Months Ended April 30,
2021202020212020
Inside sales (in thousands)$913,364 $797,933 $3,811,521 $3,596,173 
Inside same-store sales12.8 %(5.6)%4.0 %0.8 %
Grocery and other merchandise same-store sales increase 12.5 %(2.0)%6.6 %1.9 %
Prepared food and fountain same-store sales (decrease) increase13.4 %(13.5)%(2.1)%(1.5)%
Inside gross profit (in thousands)$364,872 $310,695 $1,526,262 $1,468,232 
Inside margin39.9 %38.9 %40.0 %40.8 %
Grocery and other merchandise margin31.8 %30.4 %32.0 %32.0 %
Prepared food and fountain margin60.1 %60.0 %60.1 %60.9 %

Inside same-store sales were driven by a resurgence in pizza slices, dispensed beverage, and bakery as Casey’s began lapping COVID-19 related traffic disruption. Whole pizza pie sales remained strong throughout the quarter as well. Inside margins improved primarily due to strategic sourcing initiatives and previous merchandise resets, along with a favorable mix shift of private brands, packaged beverage, and prepared foods.

Operating Expenses
Three Months Ended April 30,Twelve Months Ended April 30,
2021202020212020
Operating expenses (in thousands)$426,308 $367,489 $1,637,191 $1,498,043 
Credit card fees (in thousands)$38,981 $30,509 $147,366 $145,165 
Same-store operating expense excluding credit card fees6.5 %0.0 %3.0 %2.9 %

Operating expenses for the fourth quarter were up primarily due to increased store-level operating hours and costs as we lapped COVID-19 related shutdowns from the same time a year ago. Also contributing to the increase were $8 million in incremental incentive compensation expense due to strong financial performance, higher credit card fees due to the rising retail price of fuel and increased volume, and operating 36 more stores than this time last year.



Expansion
Store Count
Stores at April 30, 20202,207
New store construction40
Acquisitions5
Acquisitions not opened(3)
Prior acquisitions opened5
Closed(11)
Stores at April 30, 20212,243

Liquidity
At April 30, the Company had approximately $810 million in available liquidity, consisting of approximately $335 million in cash and cash equivalents on hand and $475 million in undrawn borrowing capacity on existing lines of credit.

Share Repurchase
The Company has $300 million remaining under its existing share repurchase program which expires in April 2022. There were no repurchases made against that authorization in the fourth quarter.

Dividend
At its June meeting, the Board of Directors voted to pay a quarterly dividend of $0.34 per share. The dividend is payable August 16, 2021 to shareholders of record on August 2, 2021.

Buchanan Energy Transaction
On May 13, 2021, Casey's closed on the Buchanan Energy acquisition. The transaction was financed with a $300 million draw on a bank term loan and cash. Buchanan Energy is expected to add approximately $45 million in annual EBITDA contribution in fiscal 2022, but will be dilutive in the first quarter due to the related transaction costs.

Fiscal 2022 Outlook
Casey's expects to build on the momentum of fiscal 2021, however, uncertainty remains regarding the timing of recovery from the COVID-19 pandemic. The Company expects same-store fuel and inside sales to increase by mid-single digit percentages. Total operating expenses are expected to increase by mid-teen percentages, driven primarily by adding approximately 200 units during fiscal 2022, as well as expenses related to adding back operating hours to the stores and expected wage pressures. Depreciation and amortization is expected to be approximately $300 million, interest expense is expected to be approximately $50 million, and the tax rate is expected to be approximately 26.0%. The Company is also expecting to add approximately $500 million in property and equipment in the fiscal year, including acquisition remodels. As a reminder, with the exception of same-store sales, the estimates in this paragraph include the impact of the Buchanan Energy and Circle K acquisitions.




Casey’s General Stores, Inc. and Subsidiaries
Condensed Consolidated Statements of Income
(Dollars in thousands, except share and per share amounts)
(Unaudited)
 Three Months Ended April 30,Twelve Months Ended April 30,
 2021202020212020
Total revenue$2,378,236 $1,812,883 $8,707,189 $9,175,296 
Cost of goods sold (exclusive of depreciation and amortization, shown separately below)1,817,244 1,287,813 6,350,754 7,030,612 
Operating expenses426,308 367,489 1,637,191 1,498,043 
Depreciation and amortization69,897 65,193 265,195 251,174 
Interest, net11,168 13,806 46,679 53,419 
Income before income taxes53,619 78,582 407,370 342,048 
Federal and state income taxes11,921 16,491 94,470 78,202 
Net income$41,698 $62,091 $312,900 $263,846 
Net income per common share
Basic$1.12 $1.68 $8.44 $7.14 
Diluted$1.12 $1.67 $8.38 $7.10 
Basic weighted average shares37,117,504 36,978,032 37,092,273 36,956,115 
Plus effect of stock compensation263,969 229,229 263,865 229,713 
Diluted weighted average shares37,381,473 37,207,261 37,356,138 37,185,828 


Casey’s General Stores, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(Dollars in thousands)
(Unaudited)
 
April 30, 2021April 30, 2020
Assets
Current assets
Cash and cash equivalents$336,545 $78,275 
Receivables79,698 48,500 
Inventories286,598 236,007 
Prepaid expenses11,214 9,801 
Income taxes receivable9,578 14,667 
Total current assets723,633 387,250 
Other assets, net of amortization82,147 71,766 
Goodwill161,075 161,075 
Property and equipment, net of accumulated depreciation of $2,206,405 at April 30, 2021 and $2,037,708 at April 30, 20203,493,459 3,323,801 
Total assets$4,460,314 $3,943,892 
Liabilities and Shareholders’ Equity
Current liabilities
Lines of credit$— $120,000 
Current maturities of long-term debt and finance lease obligations2,354 570,280 
Accounts payable355,471 184,800 
Accrued expenses254,924 188,348 
Total current liabilities612,749 1,063,428 
Long-term debt and finance lease obligations, net of current maturities1,361,395 714,502 
Deferred income taxes439,721 435,598 
Deferred compensation15,094 13,604 
       Insurance accruals, net of current portion26,239 22,862 
Other long-term liabilities72,437 50,693 
Total liabilities2,527,635 2,300,687 
Total shareholders’ equity1,932,679 1,643,205 
Total liabilities and shareholders’ equity$4,460,314 $3,943,892 


Casey’s General Stores, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(Dollars in thousands)
(Unaudited)
 Twelve months ended April 30,
 20212020
Cash flows from operating activities:
Net income$312,900 $263,846 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization265,195 251,174 
Amortization of debt issuance costs1,603 — 
Stock-based compensation31,986 18,129 
Loss on disposal of assets and impairment charges9,680 3,495 
Deferred income taxes4,123 49,810 
Changes in assets and liabilities:
Receivables(26,278)(10,644)
Inventories(50,342)37,713 
Prepaid expenses(1,413)(2,308)
Accounts payable166,546 (140,151)
Accrued expenses65,497 26,400 
Income taxes5,714 15,783 
Other, net18,877 (8,933)
Net cash provided by operating activities804,088 504,314 
Cash flows from investing activities:
Purchase of property and equipment(441,252)(438,977)
Payments for acquisitions of businesses, net of cash acquired(9,356)(32,706)
Proceeds from sales of property and equipment6,268 5,041 
Net cash used in investing activities(444,340)(466,642)
Cash flows from financing activities:
Proceeds from long-term debt650,000 — 
Repayments of long-term debt(571,661)(17,476)
Payments of debt issuance costs(5,525)— 
Net (payments) borrowings of short-term debt(120,000)45,000 
Proceeds from exercise of stock options1,784 2,958 
Payments of cash dividends(47,971)(45,951)
Tax withholdings on employee share-based awards(8,105)(7,224)
Net cash used in financing activities(101,478)(22,693)
Net increase in cash and cash equivalents258,270 14,979 
Cash and cash equivalents at beginning of the period78,275 63,296 
Cash and cash equivalents at end of the period$336,545 $78,275 
SUPPLEMENTAL DISCLOSURES OF CASH FLOWS INFORMATION
 Twelve months ended April 30,
 20212020
Cash paid during the period for:
Interest, net of amount capitalized$48,508 $54,277 
Income taxes, net80,916 9,364 
Noncash investing and financing activities:
Purchased property and equipment in accounts payable9,204 5,328 
Noncash additions from adoption of ASC 842— 22,635 


Summary by Category (Amounts in thousands)
Three months ended April 30, 2021FuelGrocery & Other
Merchandise		Prepared Food
& Fountain		OtherTotal
Revenue$1,445,119 $649,822 $263,542 $19,753 $2,378,236 
Gross profit$176,664 $206,480 $158,392 $19,456 $560,992 
12.2 %31.8 %60.1 %98.5 %23.6 %
Fuel gallons sold535,274 
Three months ended April 30, 2020
Revenue$999,352 $568,080 $229,853 $15,598 $1,812,883 
Gross profit$198,803 $172,862 $137,833 $15,572 $525,070 
19.9 %30.4 %60.0 %99.8 %29.0 %
Fuel gallons sold487,708 
 
Summary by Category (Amounts in thousands)
Twelve months ended April 30, 2021FuelGrocery & Other
Merchandise		Prepared Food
& Fountain		OtherTotal
Revenue$4,825,466 $2,724,374 $1,087,147 $70,202 $8,707,189 
Gross profit$761,247 $872,573 $653,689 $68,926 $2,356,435 
15.8 %32.0 %60.1 %98.2 %27.1 %
Fuel gallons sold2,180,772 
Twelve months ended April 30, 2020
Revenue$5,517,412 $2,498,966 $1,097,207 $61,711 $9,175,296 
Gross profit$614,847 $800,140 $668,092 $61,605 $2,144,684 
11.1 %32.0 %60.9 %99.8 %23.4 %
Fuel gallons sold2,293,609 
Fuel GallonsFuel Margin
Same-store Sales(Cents per gallon, excluding credit card fees)
 Q1Q2Q3Q4Fiscal
Year		 Q1Q2Q3Q4Fiscal
Year
F2021(14.6)%(8.6)%(12.1)%6.4 %(8.1)%F202138.2 ¢35.3 ¢32.9 ¢33.0 ¢34.9 ¢
F2020(2.0)(1.8)(2.0)(14.7)(5.1)F202024.4 22.9 21.7 40.8 26.8 
F20190.5 (1.1)(3.4)(2.8)(1.7)F201920.5 20.0 22.1 18.6 20.3 
Grocery & Other MerchandiseGrocery & Other Merchandise
Same-store SalesMargin
 Q1Q2Q3Q4Fiscal
Year		 Q1Q2Q3Q4Fiscal
Year
F20213.6 %6.6 %5.4 %12.5 %6.6 %F202132.2 %33.3 %30.7 %31.8 %32.0 %
F20203.2 3.2 3.5 (2.0)1.9 F202031.3 33.3 32.9 30.4 32.0 
F20193.2 2.7 3.4 5.7 3.6 F201932.4 32.4 31.9 31.5 32.1 
Prepared Food & FountainPrepared Food & Fountain
Same-store SalesMargin
 Q1Q2Q3Q4Fiscal
Year		 Q1Q2Q3Q4Fiscal
Year
F2021(9.8)%(3.6)%(5.0)%13.4 %(2.1)%F202159.7 %60.1 %60.6 %60.1 %60.1 %
F20201.6 1.9 2.8 (13.5)(1.5)F202062.2 60.9 60.2 60.0 60.9 
F20191.7 2.2 1.5 2.0 1.9 F201962.0 62.4 62.3 62.2 62.2 




RECONCILIATION OF NET INCOME TO EBITDA AND ADJUSTED EBITDA
We define EBITDA as net income before net interest expense, income taxes, depreciation and amortization. Adjusted EBITDA further adjusts EBITDA by excluding the gain or loss on disposal of assets as well as impairment charges. Neither EBITDA nor Adjusted EBITDA are considered GAAP measures, and should not be considered as a substitute for net income, cash flows from operating activities or other income or cash flow statement data. These measures have limitations as analytical tools, and should not be considered in isolation or as substitutes for analysis of our results as reported under GAAP. We strongly encourage investors to review our financial statements and publicly filed reports in their entirety and not to rely on any single financial measure.
We believe EBITDA and Adjusted EBITDA are useful to investors in evaluating our operating performance because securities analysts and other interested parties use such calculations as a measure of financial performance and debt service capabilities, and they are regularly used by the Company for internal purposes including our capital budgeting process, evaluating acquisition targets, assessing performance, and awarding incentive compensation.
Because non-GAAP financial measures are not standardized, EBITDA and Adjusted EBITDA, as defined by us, may not be comparable to similarly titled measures reported by other companies. It therefore may not be possible to compare our use of these non-GAAP financial measures with those used by other companies.
The following table contains a reconciliation of net income to EBITDA and Adjusted EBITDA for the three and twelve months ended April 30, 2021 and 2020:
(In thousands)Three Months Ended April 30,Twelve Months Ended April 30,
 2021202020212020
Net income$41,698 $62,091 $312,900 $263,846 
Interest, net11,168 13,806 46,679 53,419 
Depreciation and amortization69,897 65,193 265,195 251,174 
Federal and state income taxes11,921 16,491 94,470 78,202 
EBITDA$134,684 $157,581 $719,244 $646,641 
Loss on disposal of assets and impairment charges5,872 1,380 9,680 3,495 
Adjusted EBITDA$140,556 $158,961 $728,924 $650,136 
NOTES:
•Gross Profit or Margin is defined as revenue less cost of goods sold (exclusive of depreciation and amortization)
•Inside is defined as the combination of Grocery and Other Merchandise and Prepared Food and Fountain
This release contains statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including those related to the Buchanan Energy and Circle K acquisition, expectations for future periods, possible or assumed future results of operations, financial conditions, liquidity and related sources or needs, business and/or integration strategies, plans and synergies, supply chain, growth opportunities, performance at our stores, and the potential effect of COVID-19. There are a number of known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from any future results expressed or implied by those forward-looking statements, including but not limited to the timing and integration of the foregoing acquisitions, executing our strategic plan, the impact and duration of COVID-19 and related governmental actions, as well as other risks, uncertainties and factors which are described in the Company’s most recent annual report on Form 10-K and quarterly reports on Form 10-Q, as filed with the Securities and Exchange Commission and available on our website. Any forward-looking statements contained in this release represent our current views as of the date of this release with respect to future events, and Casey’s disclaims any intention or obligation to update or revise any forward-looking statements in the release whether as a result of new information, future events, or otherwise.
Corporate information is available at this website: https://www.caseys.com. Earnings will be reported during a conference call on June 9, 2021. The call will be broadcast live over the Internet at 7:30 a.m. CST.  To access the call, go to the Events and Presentations section of our website at https://investor.caseys.com/events-and-presentations/default.aspx.  No access code is required.  A webcast replay of the call will remain available in an archived format on the Events and Presentations section of our website at https://investor.caseys.com/events-and-presentations/default.aspx for one year after the call.
Investor Relations Contact:Media Relations Contact:
Brian Johnson (515) 965-6587Katie Petru (515) 446-6772