- 10 Sep
Casey’s reports retail fuel margins of $0.149 per gallon
Casey’s announced their retail fuel margins were $0.149 per gallon in Q1 of the 2013 fiscal year. That retail fuel margin is slightly ahead of their stated company goal of $0.140 per gallon. Retail fuel margins for the same period last year were $0.172 per gallon. As a comparison, Valero reported retail fuel margins of $0.30 per gallon for the quarter ending July 31. The Pantry reported retail fuel margins of $0.146 per gallon on August 7.
Same store retail fuel volumes were down .2%, but total gallons sold for the quarter were up 3.7% to 394.1 million gallons. CEO Robert J. Myers blamed the decreased same store fuel volumes on excessively hot weather in several of their areas of business.
With a store count of 1699, the monthly gallons per store average was 77,300 gallons. NACS reports the average c-store sells 124,000 gallons of fuel per store per month.
Casey’s has 18 new stores under construction and 27 new stores under written agreement to purchase. Casey’s has an annual goal of increasing their total number of stores by 4-6%. That would equate to between 68 and 100 new stores for the year. The same day Casey’s announced their quarterly earnings, they also announced they are acquiring 22 stores from Kum & Go.