Casey’s General Stores: Fueling Convenience

This episode is brought to you by:
Tegus. Tegus is the modern research platform for leading investors, and provider of Canalyst. Tired of calculating fully-diluted shares outstanding? Access every publicly-reported datapoint and industry-specific KPI through their database of over 4,000 driveable global models handbuilt by a team of sector-focused analysts, 35+ industry comp sheets, and Excel add-ins that let you use their industry-leading data in your own spreadsheets. Tegus’ models automatically update each quarter, including hard to calculate KPIs like stock-based compensation and organic growth rates, empowering investors to bypass the friction of sourcing, building and updating models. Make efficiency your competitive advantage and take back your time today. As a listener, you can trial Canalyst by Tegus for free by visiting tegus.co/patrick.

(00:02:42) - (First question) - The concept of Casey’s General Store 

(00:06:04) - Casey’s competitors and the market share in different regions

(00:10:52) - The main differences between Casey’s and a regular gas station  

(00:14:09) - A brief history on Casey’s beginnings and its founder

(00:17:25) - A breakdown of the business’ revenue

(00:19:14) - Casey's growth despite the changing environment standards raising operational costs

(00:23:52) - The business’ margin profile

(00:26:53) - How Casey’s General competes with its peers and fuel pricing

(00:29:33) - The focus for Casey’s with regards to expansion opportunities 

(00:33:06) - The hurdles involved with building new gas stations versus acquiring existing stores

(00:35:08) - Casey’s stance on franchising

(00:38:02) - The company’s attractiveness to buyers

(00:40:52) - Casey’s General’s average stock performance

(00:44:26) - Key risks of Casey’s

(00:47:30) - The main lessons learned from Casey’s General Stores