Executive Summary

• Casey’s General Stores reported 3Q19 revenue of $2.0 billion, slightly below the consensus estimate of $2.2 billion and down 0.3% from 3Q18.
• Fuel segment revenue fell 4.9% year over year, while revenue in grocery and prepared food increased by 8.2% and 6.5%, respectively.
• Casey’s General Stores will build 55-60 new stores and acquire at least 20 stores by the end of 2019.