Mighty Casey’s Home Run
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 11 June 2019
⏱️ 16 minutes
🧾️ Download transcript
Summary
Casey’s General Stores hits a new all-time high after blowout 4th-quarter earnings. Bill Mann analyzes how Casey’s is quietly a threat to McDonald’s. Plus, we discuss Foxconn’s potential move out of China, Wells Fargo’s challenge to find a new CEO, and highlights from FoolFest 2019.
Transcript
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| 0:00.0 | It's Tuesday, June 11th. Welcome to Market Foolery. I'm Chris Hill joining me in studio. Tanned, rested and ready. It's Bill Mann. Thanks for being here. |
| 0:10.0 | How are you, Chris? I'm not quite as rested. Yeah. I'm not as tan. |
| 0:14.6 | Thanks for bringing the main weather with you. It is fantastic outside. It is |
| 0:19.5 | gorgeous outside. And here we are in a windowless room. I know. Let's make this quick. We're going to dip into the full mail bag. One company is having trouble finding a CEO, so depending on what your resume looks like we may have a job |
| 0:34.8 | opening for the dozens of listeners let's start with some earnings from Casey's |
| 0:39.2 | general stores and by earnings I mean blowout earnings at least starting with the thunder are you Chris it really is |
| 0:44.5 | Casey's general the stock is up 11% it's hitting an all-time high how good was this quarter |
| 0:52.1 | it was really it was a really good quarter? It was really, it was a really good quarter. |
| 0:55.0 | I mean 68 cents versus 51 a year ago for the quarter. |
| 1:00.0 | Five dollars and fifty cents for the year versus 381 for a year ago the stock as you said |
| 1:06.5 | is up 10% and all of this came in the environment in which I think the |
| 1:11.0 | thing that people were surprised about is that it's one of the things that Casey's does one of their big revenue items is gasoline sales and it's been kind of a cruddy environment for selling gas |
| 1:20.3 | Right pricing hasn't been there spreads haven't been there. |
| 1:23.7 | So for them to come in with a quarter like this, that means that their front of store has just performed |
| 1:29.5 | magnificently. |
| 1:31.4 | That was the thing I was thinking about when I was taking a quick look at the results |
| 1:36.6 | and I just and this is not a apples to apples comparison, but I thought of Costco because every time Costco reports earnings, |
| 1:44.6 | you know, the gasoline is part of that equation. |
| 1:48.0 | But it really does seem like Casey's general has, through no fault of their own, inadvertently put pressure on Costco and anyone |
| 1:56.9 | else who is in that business to basically say, hey look, you don't have to be victim to the |
| 2:02.0 | whims of gas prices if you are really getting it done in the front of the store |
| 2:06.2 | Yeah, do you have you been to a case? I've never been to a case. Yeah, so you know what they're about right so he folks here on the East Coast are probably familiar with |
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