Caseys General Stores (CASY) has reported 27.65 percent fall in profit for the quarter ended Oct. 31, 2016. The company has earned $57.18 million, or $1.44 a share in the quarter, compared with $79.03 million, or $2 a share for the same period last year.
Revenue during the quarter went down marginally by 0.24 percent to $1,920.06 million from $1,924.60 million in the previous year period. Gross margin for the quarter expanded 8 basis points over the previous year period to 23.10 percent. Total expenses were 94.82 percent of quarterly revenues, up from 93.08 percent for the same period last year. That has resulted in a contraction of 174 basis points in operating margin to 5.18 percent.
Operating income for the quarter was $99.55 million, compared with $133.20 million in the previous year period.
"The second quarter fuel margin was 6.1 cents per gallon lower than the 24.7 cents per gallon record quarterly fuel margin from a year ago, which impacted the second quarter diluted earnings by approximately $0.52 per share," said Terry Handley, president and chief executive officer.
Working capital turns positiveWorking capital of Caseys General Stores has turned positive to $38.98 million on Oct. 31, 2016 from negative $77.03 million on Oct. 31, 2015. Current ratio was at 1.10 as on Oct. 31, 2016, up from 0.81 on Oct. 31, 2015. Cash conversion cycle (CCC) has increased to 7 days for the quarter from 1 days for the last year period. Days sales outstanding were almost stable at 2 days for the quarter, when compared with the last year period.
Days inventory outstanding has decreased to 6 days for the quarter compared with 13 days for the previous year period. At the same time, days payable outstanding was almost stable at 15 days for the quarter, when compared with the previous year period.
Debt moves upCaseys General Stores has witnessed an increase in total debt over the last one year. It stood at $930.46 million as on Oct. 31, 2016, up 9.99 percent or $84.51 million from $845.95 million on Oct. 31, 2015. Total debt was 31.52 percent of total assets as on Oct. 31, 2016, compared with 32.16 percent on Oct. 31, 2015. Debt to equity ratio was at 0.78 as on Oct. 31, 2016, down from 0.84 as on Oct. 31, 2015. Interest coverage ratio deteriorated to 9.88 for the quarter from 13.31 for the same period last year. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
